Advait Energy Shares Surge To 10-Month High As Vijay Kedia Buys Stake

Advait Energy Transitions Ltd. share price surged to the highest level in 10 months on Thursday as Vijay Kedia bought a stake in the company. Investment firm Kedia Securities Pvt. bought one lakh shares or 0.92% equity in Advait Energy at Rs 1,725 apiece, as per BSE bulk deal data. The amount aggregates to Rs 17.25 crore.

Kedia's portfolio is highly regarded and followed in the Indian investors' community.

Advait Energy Transitions has 1.08 crore shares outstanding, as per data on BSE. Out of the total outstanding shares, the promoters and promoter group controls 69.4% equity, and the rest is owned by the public. The total market cap of the company is Rs 2,116.3 crore, as per data on the BSE.

Advait Energy Transitions' share price hit a 20% upper circuit and rose to Rs 1,996 apiece, the highest level since Sept. 3, 2024. It came out of the upper circuit to trade 14.76% higher at Rs 244.60 apiece, as compared to 0.10% advance in the NSE Nifty 50.

The stock advanced 2.07% in 12 months, and 25.13% on year-to-date basis. Total traded volume so far in the day stood at 36 times its 30-day average. The relative strength index was at 75.76, which implied the stock is overbought.