Penny stock below Rs 5 hit upper circuit after receiving an order of Rs 150,00,00,000 from RFBL Flexi Pack Ltd

Pressure Sensitive Systems India Ltd has received a new work order from RFBL Flexi Pack Limited to provide goods and services on an as-needed basis over a period of one year. The total value of this domestic contract is Rs 150,00,00,000, inclusive of all taxes. This new order underscores the company's role as a key supplier for RFBL Flexi Pack Limited.

Pressure Sensitive Systems India Ltd. is an Ahmedabad-headquartered company established in 1987, specialising in textiles, fashion and agro-based industries. While initially focused on manufacturing adhesive tapes like Nylon, Rayon and Fibreglass cloth tapes, the company has diversified its portfolio to include high-quality textiles, fabrics, garments and accessories. Furthermore, it has a strong presence in the agro and food sector, offering a range of products like spices, grains, oil seeds and processed foods, with a focus on sustainable sourcing. The company operates through two foundries, SG iron and Steel and maintains an ISO 9001:2015 certified manufacturing facility, demonstrating its commitment to quality and expanding its reach in both domestic and international markets.

Pressure Sensitive Systems India Ltd has a market cap of Rs 47 crore. On Monday, shares of Pressure Sensitive Systems (India) Ltd hit a 5 per cent upper cent to Rs 3.18 per share from its previous closing of Rs 3.03. The stock has a 52-week high of Rs 7.24 and 52-week low of Rs 2.81. The stock is up by 13 per cent from its 52-week low of Rs 2.82 per share.

Disclaimer: The article is for informational purposes only and not investment advice.