Satia Industries Limited’s shares were up by 1.95 per cent after the company reportedly clinched contracts for the supply of paper intended for printing textbooks in Orissa, Himachal Pradesh, and West Bengal.
These contracts amount to a total worth of Rs. 96.50 crore and are set for immediate execution.
RK Bhandari, Joint Managing Director of Satia Industries, said, “These multiple order wins are reflective of our long-standing association with important customers and thank them for their trust in the quality and commitment of Satia Industries to deliver high volumes, well in time - both being imperative for delivery of textbooks to the students before the new academic year. Orders from text-book boards also give revenue visibility to the company at attractive prices. Such orders command higher operating margins as compared to open market.”
The shares were up by 1.95 per cent to Rs. 138.45 at 11.31 a.m. on the BSE.