Kotyark Industries shares zoom 15% in early deals; here’s why

Kotyark Industries’ shares increased 14.84% to Rs 698 from its previous close of Rs 607.75 on the NSE; the firm is not listed on the BSE.

Kotyark Industries Limited, incorporated in 2016, is engaged in the manufacturing of biodiesel and its by-products, and is one of the key players across the state of Rajasthan in India. — Kotyark Industries’ shares have a beta of 1.2, suggesting extremely high volatility over the course of a year. The stock is trading above its five-day, twenty-day, fifty-day, hundred-day, and two-hundred-day moving averages.

INTRODUCTION

Kotyark Industries’ stock increased 14.84% to Rs 698 from its previous close of Rs 607.75 on the NSE. The company is not traded on the BSE.

Kotyark Industries’ stock has increased by 139.43% in a year and by 78.18% since the beginning of this year.

On the BSE today, 85,600 shares of the company changed hands for a total of Rs 5.59 crore. The company’s market capitalization increased to Rs 572 crore.

KOTYARK INDUSTRIES LTD SHARE PRICE

Kotyark Industries’ shares have a beta of 1.2, suggesting extremely high volatility over the course of a year. The stock is trading above its five-day, twenty-day, fifty-day, hundred-day, and two-hundred-day moving averages.

“In aggregate, we have received a total order for the procurement of biodiesel of 200,70 KL with an estimated order value of Rs 178.00 Crore (approx.) from IOC, HPCL, and BPCL together,” the business stated.

“An Allocation Sheet for Tender of Kotyark Industries Limited for procurement of biodiesel from Indian Oil Corporation Limited (IOC), Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL) for the period July 2023 to September 2023 for 17,381 KL with an estimated order value of Rs 154.00 crore approx.”)

Yamuna Bio Energy Private Limited (Amalgamating firm, a firm in the process of amalgamation with our company Kotyark Industries Limited) for the procurement of Biodiesel for 2,689 KL with an anticipated order value of Rs. 24.00 Cr.

The company focuses on green energy and the sustainable development of renewable resources (biofuel) through the application of ecologically friendly technology.

Kotyark Industries Limited, established in 2016, is a prominent operator in the manufacturing of biodiesel and its byproducts in the Indian state of Rajasthan.