New Delhi, May 7 -- AVI Polymers, a penny stock, was locked at its 5% upper circuit limit in Thursday's trade, 7 May, settling at Rs.24.25 apiece and extending its winning run to the 16th straight session after approving the acquisition of a 90% stake in JVTR Consultants Private Limited through a share swap arrangement at an indicative valuation of Rs.500 crore.

Through this acquisition, the company said it aims to strengthen its position in the fast-growing technology sector and expand beyond its traditional business operations.

The company is focusing on areas such as information technology services, software development, system integration, digital platforms, and related technology solutions and believes that this strategic expansion...