IT Stock Under Rs 10 Soars To New 52-Week High On Acquisition Buzz; Locked In Upper Circuit Too

On Tuesday, October 7, the shares of Avance Technologies hit a new 52-week high of Rs 3.03 per share, which was also the upper circuit limit, after rising 1.68% from the previous close. The market value of the company was Rs 600.52 Cr. Year-to-date, the share price of Avance Technologies has shot up from Rs 0.88 to the current market price, providing shareholders with a multibagger return of 244.32% so far in 2025.

The most recent catalyst for the stock's move higher seems to be some news from the company that it is on the path toward an acquisition in the B2B inventory liquidation space. This was disclosed in a filing with the stock exchanges on July 16, when Avance Technologies informed shareholders that its Board of Directors had approved the execution of a non-binding term sheet to purchase Checkers India Technology Private Limited, which owns www. Excess2Sell.com, a tech-forward B2B solution liquidating overstock inventory.

The transaction remains conditional upon completion of due diligence, finalising definitive agreements and receipt of all required regulatory and stakeholder approvals. Avance Technologies had to say about this development: "This strategic move marks Avance Technologies' entry into the high-potential, underpenetrated overstock Inventory liquidation space, aimed at resolving one of the retail industry's most pressing challenges-unsold inventory."

Excess2Sell. com is a platform that enables companies to register, KYC and deal directly with surplus stock, including electronics, fashion, home wares, etc. Its various features allow users to instantly purchase, sell or make a deal where required, supported by pricing tools and smart listing options, making it a purpose-built platform for businesses with surplus stock.

This potential acquisition is in line with Avance Technologies' strategy of ongoing transformation and diversification. Established in 1985, Avance has transformed itself from a classic IT product seller company to a full-service digital marketing and IT solutions company. Its menu includes software development, market research, trend analysis and various types of marketing automation, as well as niche services such as influencer marketing, app-based marketing and WhatsApp-enabled e-commerce. The company has established clients like Tata Tele, Reliance and FDC.