Penny Stock Under Rs 60 In Focus As Company Bags Order From Food Corporation of India, Jaipur Under PWS-2010 Scheme
The stock is up over 60 per cent from its 52-week low of Rs 30 per share.
Asian Warehousing Ltd has been awarded a significant contract by the Food Corporation of India (FCI), Jaipur, under the PWS-2010 Scheme, for providing warehousing services for the storage of foodgrains. This domestic order entails a total awarded storage capacity of 9240 Metric Tonnes, with an approved rate of Rs 7.40 per quintal per month for storage "with services," and the specific execution timeline will be determined by FCI, Jaipur, as per the provisions of their floated tender.
Incorporated in 2012, Asian Warehousing Ltd (AWL) operates in the agri-products warehousing sector, actively engaging in warehouse development and management. Following a Scheme of Arrangement approved by the Bombay High Court in FY15, the warehousing division of R T Exports Limited was demerged into Asian Warehousing Private Limited, which was subsequently converted into a public limited company on December 8, 2018, leading to its current name. AWL is expanding its footprint with additional facilities in Kandla and aims to achieve a targeted development of 1 million square feet of warehousing space by FY26.
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The company has a market cap of Rs 17 crore. The stock is up over 60 per cent from its 52-week low of Rs 30 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.