Lambodhara Textiles zooms nearly 200% in one month

Since April 23, the stock has appreciated nearly 200% from Rs 154 to Rs 449 compared to a 1% decline in the CNX Nifty.

Shares of Lambodhara Textiles have moved higher by 9% to Rs 449, also a lifetime high on the NSE, extending their month-long rally on the bourses.

In the past one month, the shares of the company engaged in textiles and windmill business have appreciated nearly 200% from Rs 154 on April, 23, compared to a 1% decline in the benchmark CNX Nifty.

On Friday, May 22, the company with reference to the increase in price clarified that there is no latest relevant information / announcement pending as per Clause 36 of the Listing Agreement, which may have a bearing on the price behavior in the scrip.

Lambodhara Textiles has a low equity base of about 4.53 million equity shares. As on March 31, 2015, the promoters, R Santosh and Strike Right Intergrated Services Ltd collectively held 68.89% stake in the company.

The broking firms, Choice Equity Broking Private Limited (7.43%) and Nirmal Bang Securities Private Limited (1.72%) hold a total holding of 9.15%, while Nareshkumar Kishanlal Saraf & family holds a 4.17% stake, the shareholding pattern data shows.

Meanwhile, Lambodhara Textiles is yet to announce its audited financial results for the year ended March 31, 2015. The company had reported a net profit of Rs 4.13 crore for the first nine months ended December 31, 2014; it had posted a profit of Rs 3.29 crore in the same period last year.