Penny stock under Rs 10: This micro-cap company is into expansion of business premium men’s apparels for export market; details inside!

The stock is up by 61 per cent from its 52-week low of Rs 3.78 per share and gave multibagger returns of 180 per cent in 5 years.

Garment Mantra Lifestyle Ltd (formerly Junction Fabrics & Apparels Ltd) announced its expansion into the export market with a brand-new line of premium men's apparel. This launch marks a significant milestone for Garment Mantra, which has traditionally focused on ladies' and kids' wear. Recognizing the potential for growth in men's fashion overseas, the company has developed a collection specifically tailored to the tastes and trends of the Gulf Countries.

Key Points:

• New Focus: This launch reflects a strategic shift towards expanding its footprint in the men's wear segment internationally.
• Market-Driven Design: The garments were developed in Tirupur, India, in close collaboration with potential overseas buyers to ensure they meet current market demands.
• Confident Outlook: Chairman & Managing Director, Mr Prem Aggarwal, expressed optimism about the upcoming launch, expecting the new line to hit stores in the next quarter and achieve significant success.

This exciting development positions Garment Mantra as a leading player in both domestic and international markets, offering high-quality apparel for the whole family.

Garment Mantra is a company focused on fulfilling the fashion and lifestyle aspirations of the mass Indian population. The promoters of the company have extensive experience in the textile industry for over 3 decades. Garment Mantra has 3 business divisions. Firstly, Garment Mantra is engaged in the business of garment manufacturing and selling both knitted fabrics as well as knitted garments.

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Today, shares of Garment Mantra Lifestyle Ltd gained 1.84 per cent to Rs 6.08 per share from its previous closing of Rs 5.97 with an intraday high of Rs 6.09 and an intraday low of Rs 6.82. The company has a market cap of Rs 61 crore.

The promoters of the company hold a 30.18 per cent stake in the company while the public shareholders own a 69.82 per cent stake as of March 2024. The stock is up by 61 per cent from its 52-week low of Rs 3.78 per share and gave multibagger returns of 180 per cent in 5 years.

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