On Thursday, AXITA, shares increased for a third consecutive session after the cotton ginning business told markets that it had received a significant order from Bangladesh.
The stock price rose over 2% to quote at Rs 63 at approximately 1 PM after the exchange started in the green at Rs 61.55 per share.
The Gujarat-based firm said in a regulatory filing that it had received an order from Bangladesh, a neighbour, for USD 3.28 million. The most recent order is in addition to the business’s previous existing orders from Bangladesh from several spinning mills for raw cotton totaling USD 2.71 million. As of April 6, it has a current order book of Rs 49.20 crore.
According to the filing, Axita Cotton’s new order, which includes overseas customers, will be delivered over the course of the next three months.
The firm has reached a critical milestone, according to Kushal Nitinbhai Patel, MD of Axita Cotton.
Leading producer and exporter of raw cotton is Axita Cotton. In only six months, the small-cap business more than quadrupled the money of its investors. The stock has increased stockholders’ wealth by a staggering 245 percent over the last year.