White Organic Argo stock hits 20% upper circuit on announcement of future development for FY22

The company signed exclusivity with many farmers adopting organic farming practices based in Otur, Nashik, Pune for proper and timely sourcing of the products.

May 26, 2021 12:05 IST India Infoline News Service

White Organic Agro has announced its future development for the financial year FY22. The company's stock has frozen to the upper circuit on Dalal Street on Wednesday.

The company plans to sign leased pacts for farming and cultivation of various vegetables and fruits in Maharashtra and Gujarat and increased acreage for the cultivation for the summer season.

Darshak Rupani says “This is our major step towards the enormous scope of Organic Agro activities, with this strategic disinvestment in the subsidiary, we will be focused on organic farming, cultivation, wholesale and exports in the agricultural activities (viz:- Cultivation, Farming, Harvesting etc.) Our aspiration is to nurture our nation organically. Since the general public is becoming more and more aware nowadays about the benefits of Organic Farming over traditional farming, thus this is the time for corporates to grow into the cultivation and farming of organic food so as to benefit the society as well as farmers to become self-sufficient in their requirements for agro-inputs and reduce the farming costs."

Rupani added, "We thank our valued Investors and Customers for continuous support to this evolving situation. We all share the common goal of keeping everyone healthy and safe.”

It needs to be noted that the company signed exclusivity with many farmers adopting organic farming practices based in Otur, Nashik, Pune for proper and timely sourcing of the products and setting up the helping the distribution channel for the same.

The company expects exponential growth in into indirect farming business in the northern states of India in the business of basmati rice. The Company shall increase the capacity in New Delhi, from which it carries on the basmati rice business.

At around 12.46 PM, White Organic was trading at the upper circuit of Rs7.94 per piece up by 19.9% on Sensex. 

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