HMA Agro Industries Stock Rises After Securing ₹160 Crore Credit Facility from HDFC Bank
HMA Agro Industries, a notable small-cap stock trading under ₹50, gained momentum on Friday, December 27, with a 2% rise during early trading on the BSE. The stock opened at ₹40.28, up from its previous close of ₹39.52, following the announcement of substantial credit facilities sanctioned by HDFC Bank.
Key Updates: HDFC Bank Credit Facility
In a significant development, HMA Agro Industries disclosed via an exchange filing on December 26 that its board had approved credit facilities amounting to ₹160 crore granted by HDFC Bank.
The company highlighted:
- Board Approval: The board approved the facilities at a meeting held on December 26, 2024.
- Utilization Terms: The credit facilities are contingent on the fulfillment of terms outlined in the offer letter issued by HDFC Bank. Availability will depend on the bank’s discretion upon meeting these conditions.
This financial boost is expected to strengthen the company’s liquidity and operational capabilities.
Share Price Performance: A Rollercoaster Year
HMA Agro Industries’ stock performance in 2024 reflects volatility and investor caution:
- Year-to-Date Decline: The stock has fallen 53% as of December 26.
- Monthly Performance: Despite a 2% gain in November, the stock saw a 9% decline in December, continuing a challenging trend.
- 52-Week Range: HMA Agro’s share price peaked at ₹84 on December 29, 2023, and hit a low of ₹39.16 on October 28, 2024.
Breaking a Losing Streak
If HMA Agro Industries closes with gains on December 27, it will mark the end of a seven-session losing streak, a potential turning point for the stock’s momentum.
About HMA Agro Industries
HMA Agro Industries is a prominent player in the agro-products sector, focusing on the export and domestic supply of frozen and processed food products. Its ability to secure substantial credit facilities from HDFC Bank underscores its resilience and future growth aspirations despite recent stock market challenges.
As the stock stabilizes and the credit facilities come into play, HMA Agro Industries remains a focal point for investors seeking opportunities in small-cap stocks under ₹50.
