Wednesday , October 20 2021

White Organic Agro zooms on receiving letter of intent for supply of various food grains

White Organic Agro is currently trading at Rs. 10.40, up by 0.80 points or 8.33% from its previous closing of Rs. 9.60 on the BSE.

The scrip opened at Rs. 9.85 and has touched a high and low of Rs. 10.56 and Rs. 9.00 respectively. So far 699051 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 10.56 on 31-May-2021 and a 52 week low of Rs. 3.91 on 13-Apr-2021.

Last one week high and low of the scrip stood at Rs 10.56 and Rs. 4.82 respectively. The current market cap of the company is Rs. 36.96 crore.

The promoters holding in the company stood at 25.50% and Non-Institutions held 74.49%.

White Organic Agro has received first direct letter of intent for supply of various food grains (viz : rice, wheat & different types of pulses) upto Rs 110 crore to be supplied in the domestic market under the need to feed program. This would be company’s foundation stone in the bulk supply domestic market and would help widen the horizon into the vast scalable business of food grains in India.

Initially, in FY22 the company has supplied food grains worth Rs 8 crore under the same program to the same group company. As the capacity and the order book in increasing, going forward with a scope of converting the same into a long term contract and in order to facilitate and assure uninterrupted supply the management would soon finalize in the indirect farming business for cultivation, warehousing and business of Rice in the northern states, wheat and pulses in the western states of India.

White Organic Agro is engaged in farming and cultivation, distribution and retail and exports.

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