Trending Textile Stock: Low PE textile stock, AYM Syntex gains after a multiyear breakout

The shares of AYM Syntex offer a relatively high margin of safety as the promoters have recently increased their stakes in the company.

The share price of AYM Syntex gained by more than 6 per cent on Thursday, on an intraday basis as the markets attempt to make a fresh all time high. The shares of AYM Syntex, after trading higher with a price volume breakout is seen trading at a fresh 5-year highs. 

The textile sector is a turnaround sector right now with vistas of opportunities provided by the GOI with an eye on generating employment opportunities and to improve the exports for India. Textile sector is in the centre of attraction after several years. AYM Syntex is seen benefitting from the overall positive mood in the sector. 

The shares of AYM Syntex offer a relatively high margin of safety as the promoters have recently increased their stakes in the company.The shares of AYM SYntex have recently broken out of a range as seen in the daily chart. At current price the stock is trading at a PE multiple of over 14.  The stock of AYM Syntex is up by more than 23 per cent in one month. In 2021 alone the shares of AYM Syntex are up by 172.95 per cent while in one year the share price of YM Syntex is up by 348 per cent. 

On Thursday the BSE Sensex is seen making all time highs while trading at 59764.79 levels. The banks and financials are seen outperforming the markets on an intraday basis while BSE Realty index continues to surprise investors on the higher side.