LIC-Backed Micro Cap Stock Jumps 5% After Bagging ₹2 Cr Order

Shares of Integra Essentia surged up close to 5% to hit an intraday high of ₹6.55 on Thursday morning.

What Happened: The surge today comes as the company announced that its agro-product division has secured a new order valued at approximately ₹1.80 crore. As per the regulatory filing, the order entails the supply of premium rice.

With this order, the company’s order book stands at ₹3 crore. The company added that the order will be fulfilled in the current year.

Against the backdrop of its existing order book and a meticulously crafted plan for sourcing and executing supplies, the company added that it is on track to achieve an impressive overall growth rate of approximately 25% for the year ending March 2024 on a year-on-year basis.

See Also: Why Paytm’s Share Price Hit 20% Lower Circuit In Minutes Today: What Global Brokerages Have To Say

The micro-cap company further stated that it is not only meeting but surpassing the revenue targets set at the commencement of the financial year. The company is experiencing exponential growth, driven by a proactive approach to exploring strategic integrations and acquisitions.

The LIC-backed company has had a tough year at the bourses. On a year-to-date basis, the stock is down close to 6%. LIC owns a 1.06% stake in the company.

Price Action: Shares of Integra Essentia were up 4.07% to trade at ₹6.40 in the early hours of trading on Thursday.

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