2024-08-22 12:46:31
New Delhi: Mukesh Ambani’s company Reliance Industries Limited (RIL) has given a big order of Rs 60 crore to a small company Ishan International Limited. Since then, this stock has gained a lot. After the news, the small-cap stock listed on the National Stock Exchange (NSE) registered a gain of 4 percent on Tuesday. A similar jump was seen on Monday as well. However, it declined on Wednesday and closed at Rs 2.80.
Last year’s revenue was Rs 35 crore
Ishan International Limited’s revenue last year was Rs 35 crore. The order from Reliance will almost double its profit. This order from Reliance is not a one-time deal. Ishan International has informed the stock exchange that this order is for the supply of construction material. The company’s management has indicated that there is a possibility of getting more such orders.
What does Ishan International do?
Ishan International is also working in the field of renewable energy. The company has recently partnered with Right Water Solutions (India) Pvt Ltd to supply solar powered submersible pumps under the PM-KUSUM scheme. The first batch of these pumps has been installed in Nashik, Maharashtra.
Ishan International’s 52-week high is Rs 6.10. On Wednesday too, the stock opened strong at Rs 3.05. However, it gradually lost its gains. It closed at Rs 2.80. On Tuesday, it closed at Rs 2.95.
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