FIIs bought 1,44,312 shares & 10:1 Stock Split: Textile Penny Stock Under Rs 5 Jumps Over 10 Per Cent With Heavy Volume
The stock's 52-week high was Rs 7.33 per share while its 52-week low was at Rs 2.96 per share.
Nandan Denims Ltd.’s shares surged today, jumping over 10 per cent to Rs 3.87 per share with a spurt in volume by more than 1.80 times on BSE. This marks a significant increase from its intraday low of Rs 3.50 per share. The stock's 52-week high was Rs 7.33 per share while its 52-week low was at Rs 2.96 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.
Nandan Denims has a market cap of over Rs 500 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.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
According to Quarterly Results, the revenue increased by 100 per cent to Rs 926.15 crore in Q3FY25 compared to Q3FY24. The company reported a net profit of Rs 8.63 crore in Q3FY25. Looking at its nine-month results, the revenue increased by 75 per cent to Rs 2,498.03 crore and the net profit increased by 28 per cent to Rs 22.85 crore in 9MFY25 compared to 9MFY24. 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) ex-traded a 10-for-1 stock split. This means that 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. The shares of the company have a PE of 11x whereas the industry PE is 25x. From Rs 2.96 (52-week low) to Rs 3.87 per share, the stock is up by 21 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.