Shares of Gayatri Rubbers And Chemicals Limited shot up 4% on 24 September after the company announced securing an annual contract from Maharashtra State Road Transport Corporation (MSRTC). 

In its regulatory filing, the company said it had secured an annual contract from Maharashtra State Road Transport Corporation to supply reinforced rubberised packing. 

As stated in the contract, the company will supply this material for one year from 23 September 2024 to 22 September 2025. 

The company was founded in 2022 and is based in Faridabad, Haryana. It manufactures and trades rubber products. 

In its quarterly earnings for April-June, the company reported an increase in net profit to Rs 1.6 crore for the quarter from Rs 0.91 crore reported in the same quarter last year. 

Moreover, the revenue from operations during the quarter increased marginally to Rs 24.4 crore against Rs 22.2 crore in corresponding quarter of the same fiscal year. 

At 3:30 pm, the shares of Gayatri Rubbers closed 4.065 higher at Rs 445 on NSE.

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