Upper Circuit Streak: Yarn Syndicate Sees Record Delivery Buying, Trading Volume Hits Over 1 Crore Shares
Multibagger Yarn Exporter’s Stock Surges 15 per cent in 3 Trading Days After Quarterly Earnings Announcement
Yarns Syndicate Ltd, a trading and export company in the yarns sector, has hit the 5 per cent upper circuit limit for two consecutive days, with its stock price reaching Rs 51.83. This surge followed the company's November 13, 2024, quarterly earnings announcement. The stock has rallied an impressive 15.36 per cent in just three trading sessions.
Investor interest is evident, with trading volumes rising to 1.015 crore shares and a delivery percentage of 82.97 per cent on November 18, 2024. In the past 12 months stock has delivered a multibagger return of 124 per cent.
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Despite the recent rally, the company’s Q2FY25 results reflect challenges. Yarns Syndicate reported a net loss of Rs 0.26 crore, compared to a net profit of Rs 0.04 crore in the same quarter last year. Sales declined 18.75 per cent year-on-year to Rs 0.39 crore, while the earnings per share (EPS) deteriorated to -0.56.
In a positive development, Yarn Syndicate secured a significant Rs 20.48 crore job work order for denim manufacturing on October 15, 2024. This achievement underscores the company’s strong position in the textile industry and is expected to contribute to revenue growth in the coming quarters.
The company has a market capitalization of Rs 112.73 crore, with 65 per cent as free-float. Promoter holding dropped significantly to 6.73 per cent as of September 30, 2024, compared to 35.09 per cent a year ago, while public holding rose to 93.18 per cent from 64.31 per cent.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.