Penny stock hits upper circuit after company received work order from ITC

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Penny stock hits upper circuit after company received work order from ITC
Credit: © Reuters.

Penny stock engaged in the business of trading life essentials like food, clothing, infrastructure, energy, and many more hit a 2 percent upper circuit in the day’s trade upon receiving a work order worth Rs. 1.42 Crores from ITC Limited.

With a market capitalization of Rs. 340.03 Crores, the shares of Integra Essentia Limited hit a 2 percent upper circuit at Rs. 3.72, from its previous day’s close price of Rs. 3.65.

Integra Essentia Limited has received its first-ever work order from the prestigious ITC group’s Agri Division for supplying 500 MT of Rice for a consideration of Rs. 1.42 Crores and the order should be executed within 30 days. This present trial order will make way for the Company to be a long-term associate supplier with the Conglomerate

ITC Agro Business Division is one of India’s largest integrated agribusiness enterprises with a significant presence across the AgriProducts value chain. ITC Agro Business is the country’s second-largest exporter of agriculture products. It currently focuses on Exports and domestic trading of Food Grains, Feed Ingredients, Processed Fruits, Coffee, and Marine Products.

Integra Essentia Limited is engaged in the business of life essentials like food, clothing, infrastructure, energy, and many more products and services that are required to sustain modern life.

Integra Essentia Limited is committing significant investments in Food Essentials and remains focused on establishing itself as the leading player in the food industry. Besides food essentials and other businesses, it is presently emphasizing supplying bulk and specialty materials and services for the Infrastructure needs of the nation.

Marching ahead on the fast-growth track, Integra Essentia Limited recently acquired the CHATEAU INDAGE Winery, as a part of its long-term business growth strategy and to strengthen its presence in the entire supply chain spectrum of consumable goods.

Its revenue from operations grew by 38.71 percent from Rs. 67.27 Crores in Q4FY23 to Rs. 93.31 Crores in Q4FY24, accompanied by profits of Rs. 1.86 Crores to Rs. 5.92 Crores

Written by: Bharath K.S

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