Advait Infratech hits 5% upper circuit on power transmission order

Shares of Advait Infratech hit the 5 percent upper circuit at Rs 1,713.35 on the BSE after the company secured a significant order for the supply and installation of 24F OPGW (Optical Ground Wire) on a turnkey basis for a 400 kV transmission line. The contract, awarded by NRSS XXXI (B) Transmission, pertains to the Kurukshetra-Malerkotla 400 kV line and is set to be executed within seven months.

Today marks the fourth consecutive session where shares of the Rs 1,850.5 crore market cap company were locked in the upper circuit. After delivering negative returns from September through November, Advait Infratech's stock has rebounded sharply, gaining 18 percent so far in December.

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As per the Ministry of Power's notification dated May 13, 2020, Power Grid prepared Detailed Project Reports (DPRs) for the Reliable Communication Scheme across the Northern, Southern, Eastern, Western, and Northeastern Regions. These plans cover 1,09,313 km of OPGW in the central sector, with an additional 1.18 lakh km considered under the DPR approach by various states.