New Delhi, May 12 -- Shares of penny stock Murae Organisor hit its upper circuit on Monday, May 12, hitting the upper circuit in intra-day trade after the company's board approved a major expansion plan involving land acquisition and investment of up to Rs.250 million. The strategic move is aimed at boosting its agricultural and industrial footprint, with a focus on high-value pomegranate cultivation and establishing a distillery unit in Gujarat.

In an exchange filing, the company stated that its board has approved a proposal-subject to satisfactory due diligence, regulatory approvals, and statutory clearances-to explore the acquisition of agricultural land in Kutch, Gujarat. The move is part of a larger initiative to diversify and stren...