Penny stock under Rs 20: An international fund bought 43,66,550 shares of this textile company; stock trades at low PE ratio!

Its niche in the world of textile garments and clothing accessories, supplying multinational brands with their high-quality products

In the midst of the Nifty 50's recent losing streak, a captivating story of opportunity emerges, echoing the wise words of the legendary Nathan Rothschild: "The time to buy is when there's blood in the streets." It seems this maxim holds true for an intriguing micro-cap penny stock trading below Rs 20 – Celebrity Fashions Ltd.

Established in 1988, Celebrity Fashions Ltd has quietly crafted its niche in the world of textile garments and clothing accessories, supplying multinational brands with their high-quality products. While the Nifty 50 tumbled beneath the psychological barrier of 19,000, Celebrity Fashions Ltd experienced an unexpected surge.

On a fateful Thursday, the stock took a leap of faith, soaring more than 5 per cent to close at Rs 18.2. What's truly captivating is the extraordinary surge in trading volume. This surge isn't just a stroke of luck but can be attributed to the strategic buying activity of an international fund.

Under the watchful eye of SEBI SAST (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Davos International Fund made its move. On October 26, 2023, this financial titan acquired a whopping 3,537,875 shares of Celebrity Fashions Ltd. This alone signifies a tremendous show of confidence in the company.

But wait, there's more! In an equally intriguing turn of events, it was revealed that between October 6 and 19, 2023, the same Davos International Fund acquired an additional 828,675 shares of the micro-cap sensation. In total, they've amassed a remarkable 9 per cent stake in the company in the very month of October, which has left investors and market enthusiasts buzzing with curiosity.

As the market shudders and uncertainty looms, it's clear that someone is placing a major bet on Celebrity Fashions Ltd. Could this be a sign of a hidden gem, poised to break free from obscurity and become a stock market celebrity in its own right? Only time will tell, but for now, the story of Davos International Fund's bold move in the midst of financial turbulence is one that's worth keeping an eye on.

Disclaimer: The article is for informational purposes only and not investment advice.