Do you own this Low PE, High ROE and dividend yielding textile stock that is on the verge of a breakout?

At current price the stock is available at a PE multiple of 9.28 versus the industry average PE multiple of 51.66.

The share price of Ambika Cotton Mills gained by ~4 per cent on Friday, on an intraday basis. The stock is on the breakout of its 52-week high. The stock has gained with a spurt in volume on Friday. The stock is attempting to breakout of a range and is witnessing an intermediate uptrend as higher highs are made. 

At current price the stock is available at a PE multiple of 9.28 versus the industry average PE multiple of 51.66. The ROE for the company is little over 17 per cent, reflecting high management efficiency. 

Ambika Cotton Mills is one of the fundamentally strong companies with balance sheet intact to capture the market opportunities presented by the current incentives and sops provided by the government. Ambika Cotton Mills is one of the biggest textile exporters and stands to gain form the PLI scheme announced by the government for the textile sector. With steady yarn prices Ambika Cotton Mills business outlook remains strong. 

Ambika Cotton Mills delivered outstanding financial results and the company is attractively valued. The momentum indicators are indicating bullishness in the counter. 

In one year, the share price of Ambika Cotton Mills has jumped higher by 168.52 per cent while in 2021 alone the stock is up by 94.77 per cent. In one month, the shares of Ambika Cotton Mills have jumped higher by 13.20 per cent. 

Ambika Cotton Mills should be on your watchlist!