Harshil Agro, a rising player in the agri-export sector, has made headlines by securing a ₹100 crore Basmati rice export order, further strengthening its foothold in the global market. The deal includes the supply of 7,300 metric tons (MT) of premium Basmati rice to Saudi Arabia and 4,600 MT to Oman, marking a significant milestone for the company's international expansion.
Harshil Agro has been aggressively expanding its export operations, tapping into high-demand markets in the Middle East. This latest contract, worth ₹100 crore, is expected to boost the company's revenue and reinforce its position as a key exporter of Indian Basmati rice.
A company spokesperson stated, "This export deal is a testament to the quality and demand for our products in international markets. We are committed to maintaining high standards and expanding our presence globally."
Following the announcement, Harshil Agro's stock has been witnessing back-to-back upper circuits, reflecting strong investor confidence. The stock has surged significantly in recent weeks, with aggressive buying pushing prices higher.
Additionally, the company's rights issue at ₹2.43 per sharecompared to the current market price (CMP) of ₹5.40, has attracted considerable investor interest, indicating a strong upside potential.
Adding to the positive sentiment, Motilal Oswal Broking House has initiated coverage on Harshil Agro with a target price of ₹25 per share, citing strong export demand, improving financials, and growth potential in the agri-export sector.
According to analysts at Motilal Oswal, "Harshil Agro's aggressive expansion in international markets and recent export orders position it for significant upside. With increasing demand for premium Basmati rice, the company has the potential to scale operations further."
With a growing global demand for Basmati rice, coupled with Harshil Agro's strategic expansion plans, the company is poised for substantial growth. Analysts believe that this could be the beginning of a multi-year growth cycle for the company, making it an attractive pick for long-term investors.
As Harshil Agro continues to scale its operations and strengthen its export pipeline, the stock remains one to watch. Investors looking for opportunities in the agri-export sector may find Harshil Agro a compelling option, especially with the recent coverage and price target from Motilal Oswal.
🚀 Will Harshil Agro be the next big player in the agri-export space? Stay tuned for more updates!.
