Heavy buying witnessed: This micro-cap stock bags another huge order and rallies 10 per cent in today’s session!
The company has witnessed heavy buying as it has surged more than 40 per cent in just 1 week
On Thursday, shares of Kotyark Industries surged more than 10.4 per cent to record an intraday high of Rs 453 apiece on NSE. The scrip witnessed a massive spurt in volume and closed 6.30 per cent up at Rs 436 apiece.
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.
The company has also received a major allocation of orders from three of the country's biggest oil companies - Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL). The company has been awarded a tender for the procurement of 12331 KL of biodiesel from the three oil giants, which is estimated to be worth Rs 115.90 crore.
In addition, the amalgamating company, Yamuna Bio Energy Private Limited, which is in the process of merging with Kotyark Industries Limited, has also received a tender for the procurement of 8400 KL of biodiesel from the same oil companies, valued at Rs 78.50 crore.
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.
The company has witnessed heavy buying as it has surged more than 40 per cent in just 1 week. Keep a close eye on this trending stock.