Multibagger under Rs 50: 141 per cent jump in net profit; stock rallies over 5 per cent!
The stock has witnessed significant buying activity as it has given multibagger returns of more than 413 per cent in last 3 years.
In Wednesday's trading session, the market witnessed a positive close with Sensex and Nifty gaining 1.14 per cent and 1.19 per cent, respectively.
In this positive market sentiment, the shares of Trident Limited zoomed by 5.39 per cent. Furthermore, the scrip witnessed a spurt in volume by more than 3.78 times. The company's current market capitalisation is Rs 19,542.99 crore.
Trident Limited recently announced a consolidated net profit of Rs 90.31 crore for the September quarter of FY24, marking a remarkable growth of 141.5 per cent compared to Rs 37.39 crore in the corresponding quarter of the previous fiscal year.
The company's total revenue surged by 25 per cent, reaching Rs 17,97.52 crore, up from Rs 14,37.67 crore in the year-ago quarter.
Furthermore, Trident Limited has secured a patent from The Patent Office, Government of India, for its innovative "Terry Fabric Weave and Resulting Terry Fabric." This method involves a unique drafting technique that creates space between consecutive loops, enhancing material efficiencies, absorbency, softness, and texture uniformity.
The patent underscores Trident's commitment to quality innovation in delivering towels with improved features like material efficiencies, pull resistance, absorbency, softness, and texture uniformity.
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About company:
Established in 1990, Trident Ltd engages in the manufacturing, trading, and sale of Yarn, Terry Towels & Bed sheets, and Paper & Chemicals.
The geographical distribution of the company reveals a strategic presence across various regions. The majority of the company's operations are concentrated in the USA, contributing 41.45 per cent to its overall business.
India also holds a significant share, accounting for 32.23 per cent, reflecting the company's strong domestic foothold. The remaining 26.32 per cent encompasses Trident's global engagements, emphasizing its diverse market reach and a noteworthy presence in regions beyond the USA and India.
Additionally, the stock has witnessed significant buying activity as it has given multibagger returns of more than 413 per cent in last 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.