10:1 stock split & FIIs bought 1,44,312 shares: Textile penny stock under Rs 10 hit a 5 per cent upper circuit on January 14

From Rs 2.60 (52-week low) to Rs 4.53 per share, the stock is up by 74.23 per cent.

Nandan Denims Ltd.’s shares surged today, hitting a 5 per cent upper circuit to Rs 4.53 per share. This marks a significant increase from the previous closing price of Rs 4.32 per share. The stock's 52-week high is Rs 7.33 per share while its 52-week low was at Rs 2.60 per share.

Nandan Denim Ltd (NDL), a cornerstone of the Chiripal Group since its inception in 1994, has evolved from a textile trading enterprise into a global denim powerhouse. Today, it stands as India's premier and the world's fourth-largest denim manufacturer, catering to a vast customer base across 27 countries and major Indian retailers. NDL's expansive product range, encompassing over 2,000 annual denim variations, shirting fabrics, and sustainable organic cotton yarn, is complemented by a robust in-house R&D department dedicated to driving textile innovation.

According to Quarterly Results, the total income increased by 104 per cent to Rs 852.17 crore and net profit increased by 7 per cent to Rs 8.78 crore in Q2FY25 compared to Q2FY24. Looking at its half-yearly results, the total income increased by 61 per cent to Rs 1,576.03 crore and net profit increased by 64 per cent to Rs 16.27s crore in H1FY25 compared to H1FY24. In its annual results, the company reported net sales of Rs 2,010.1 crore in FY24 compared to Rs 2,026.8 crore in FY23 while net profit increased by 8,385 per cent to Rs 45 crore compared to Rs 0.53 crore in FY23.

Nandan Denim Ltd (NDL) has announced a 10-for-1 stock split. This means each existing Rs 10 share will be divided into ten new Re 1 shares. The ex-date for the stock split was Thursday, September 19, 2024.

Nandan Denims has a market cap of over Rs 600 crore. As of December 2024, the maximum share is owned by the company's promoter (51.01 per cent). In December 2024, FIIs bought 1,44,312 shares and increased their stake to 0.58 per cent compared to 0.57 per cent in September 2024. The shares of the company have a PE of 12x whereas the industry PE is 28x. From Rs 2.60 (52-week low) to Rs 4.53 per share, the stock is up by 74.23 per cent. Investors should keep an eye on this textile stock under the radar.

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