Penny stock under ₹1, Harshil Agrotech, will be in focus in Monday’s trading session of the Indian stock market following the announcement of an order win worth ₹113 crore.
The penny stock in a press release informed exchanges, said, “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”) read with Schedule III, we wish to inform that Harshil Agrotech Limited (“the Company”) has received a Work Order/Purchase Order from Heera Merchants for the supply of grains and vegetables with an aggregate order value of ₹113 Crores (Rupees One Hundred Thirteen Crores only).”
As part of the order, the company will provide various products like wheat (grade-A), potato, onion, tomato (hybrid), green chilli (fresh), brinjal and capsicum mix.
The order has to be delivered in a time span of 45 days to Ahmedabad APMC and buyer-designated warehouses and cold storages, the company added in a BSE filing.
Harshil Agrotech shall receive 30% advance within seven days of work order confirmation and 70% after delivery and inspection. The logistics will be arranged by Harshal Agrotech.
“The above order aligns with the Company’s core business of trading and processing of agricultural products and is expected to contribute meaningfully to near-term revenues, subject to timely execution, quality acceptance and collection of dues as per agreed terms,” the company said.
Harshil Agrotech share price trend
Penny stock Harshil Agrotech traded higher for most of the trading session today, hitting the day’s high of ₹0.94. However, it soon faced intense selling pressure amid a sharp selloff in the Indian stock market.
The penny stock below ₹1 ended the session 4.4% lower at ₹0.86 as against its last closing price of ₹0.90.
While shares of Harshil Agrotech are down 87% in a year, they have surged 310% in two years and 1333% in five years, delivering mutlibagger gains to investors.
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