Heavy buying witnessed: This micro-cap stock zooms 10 per cent in today’s session!

The scrip witnessed a massive spurt in volume

On Monday, shares of Kotyark Industries surged 10 per cent to record an intraday high of Rs 516.20 apiece on NSE. The scrip witnessed a massive spurt in volume   

On April 11, 2023, the company received a new Letter of Intent (LOI) from Bharat Petroleum Corporation Limited (BPCL) via mail. The LOI, dated March 31, 2023, pertains to orders for various locations within Gujarat State. Kotyark Industries Limited has placed an order for a total deliverable cost worth around Rs. 17.54 crore, while Yamuna Bio Energy Private Limited, which is in the process of merging with Kotyark Industries Limited, has placed an order for a total deliverable cost worth around Rs. 30.63 crore. This takes the total of Rs 48.17 crore worth of order received from BPCL.   

Kotyark Industries Limited has also received a Letter of Intent (LOI) dated April 5, 2023, for a total deliverable cost order for the Chittorgarh Terminal of Rajasthan State worth approximately Rs 40.48 crore. The LOI has been issued by Indian Oil Corporation Limited and the order is expected to further boost the company's revenue and profits.  

In Q3FY23, the standalone net sales of the company zoomed more than 97 per cent from last year’s same quarter to Rs 47.91 crore. The EBITDA level surged by more than 1700 per cent from December 2021 quarter to Rs 4.81 crore. The net profitability of the company shot up by whopping 2282 per cent from the corresponding quarter last year to Rs 3.29 crore.   

Kotyark Industries is serving towards renewable green energy and sustainable development of renewable natural resources and through the adoption of environmentally friendly technology that favours the net reduction of greenhouse gas emissions for use in a vehicle for public and private transport as well as various equipment and Gen Sets.  

Keep a close eye on this trending stock.