Penny stock down ₹5: Shares of Ishan International witnessed a buying spree on Monday. The NSE-listed small-cap stock was under the radar of Indian stock market watchers when the company announced it had received an order from Sensex heavyweight Reliance Industries Ltd (RIL). The penny stock below ₹5 opened downward movement at ₹2.65 but gained buying momentum after the IPO filing. Ishan International share price rose from the intraday low and hit an intraday high of ₹2.85 per share on the NSE, representing an intraday rise of around 4 percent. The RIL order to the small-cap company is ₹60 crore. The RIL order is almost double the small-cap company’s previous year’s revenue of ₹35 Crores.

Order Details from Reliance Industries

Informing the Indian Stock Exchange about receiving the RIL order, the small-cap company said, “We are delighted to inform that Ishan International Limited has received a significant order from Reliance Industries Limited for the supply of construction materials. The order is a testament to the confidence that Reliance Industries Limited has placed in our capabilities and reflects our commitment to deliver high quality products. We also look forward to receiving more such and similar orders from Reliance Industries in the coming quarters.”

The small-cap company said the size of Reliance Industries’ order, including taxes, was ₹600 million ( ₹60 Crores).

News from Isahan International

This contract doubles Ishan International’s revenue year-over-year and represents a transformative growth opportunity for the company. The sheer size of this contract underscores Ishan’s ability to handle large-scale projects and positions the company as a major player in the building materials supply industry.

The significant revenue inflow from this contract will enhance Ishan’s current financials. The successful completion of this contract with Reliance Industries, one of India’s most respected and influential conglomerates, reflects the trust that major corporates have in Ishan International. This collaboration is likely to open doors for further partnerships and additional high-value contracts, building a solid pipeline for sustainable growth.

Recently, Ishan International Limited signed a subcontract with Rite Water Solutions (India) Private Limited for supply, installation, commissioning and maintenance of agricultural submersible pumps under the popular Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan Yojna (PM-KUSUM YOJNA). These pumps are designed to run on solar energy, thereby reducing dependence on diesel and grid power, reducing operational costs for farmers and promoting sustainable farming practices. The first batch of 20 solar-powered submersible pumps have been installed in Chandwad and Niphad Talukas of Nashik district of Maharashtra.

Disclaimer: The views and recommendations above are those of individual analysts or brokerage firms, not Mint. We advise investors to seek advice from certified professionals before making any investment decisions.