Shiva Texyarn skyrockets ~20% on bagging order from Ministry of Defence

12 Apr 2022 , 10:41 AM

Shiva Texyarn’s counter jumped nearly 20% in early trade today as the company informed investors of receiving a new order from the Government of India, Ministry of Defence. However, soon it erased half of the early morning gains and was last seen 10% higher than its previous close.

The company will be responsible for supplying NBC HAVERSACK MK-11. These are basically the bags to be used by defence personnel.

The company has received the order for supplying 35,000 units to the Ministry of Defence.

The consideration to be received for this order has been decided at Rs11.90 crore.

At around 10.35 AM, Shiva Texyarn’s stock was trading at Rs248.80, up by 9.58% or Rs21.75, against its previous close of Rs227.05 on BSE. Its scrip opened at Rs235 and touched intraday high and low of Rs272 (20% higher) and Rs235 respectively.