Heavy buying: This small-cap renewable energy company bags new orders worth Rs 178 crore from Bharat Petroleum Corporation Limited!

Shares of this company have given about 100 per cent returns in the last three months.

On July 07, 2023, Kotyark Industries Limited informed in the exchange filing that the company has received a new order worth Rs 178 crores from Indian Oil Corporation Limited (IOC), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL). Owing to the positive news, the stock gained more than 9 per cent on Friday.

The company has received an allocation sheet against the tenders for the procurement of Biodiesel. Kotyark Industries Limited, India’s only pure-play listed Biodiesel Company; and Yamuna Bio Energy Private Limited (“Transferor Company” in its proposed Scheme of Amalgamation) (together referred as “the Companies”).

Kotyark Industries Limited, incorporated in 2016, is engaged in the manufacturing of biodiesel and its by-products and is one of the key players across the state of Rajasthan in India. The company focuses on green energy and the sustainable development of renewable resources (biofuel) through the adoption of environmentally friendly technology. It has a manufacturing unit at Swaroopganj, District Sirohi, RICCO, Rajasthan has a capacity of producing 500 KL of biodiesel per day from multi-feedstock.

Today, the stock opened at Rs 678.45, with a high and low of Rs 698.00 and Rs 645.95. The stock closed trading at Rs 667.00, up by 9.75 per cent over its previous close of Rs 607.75. Shares of this company have given about 100 per cent returns in the last three months. And investors should keep a close eye on this stock.