Kitex Garments spurts 53.86% in six days

Kitex Garments jumped 19.67% to Rs 789 at 14:35 IST on BSE, with the stock extending its recent rally on follow-up buying.

Meanwhile, the BSE Sensex was up 209.43 points or 0.73% to 28,726.02

On BSE, so far 3.50 lakh shares were traded in the counter, compared with an average volume of 22,198 shares in the past one quarter.

The stock hit a high of Rs 791.15 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 664.50 so far during the day. The stock hit a 52-week low of Rs 117.45 on 30 April 2014.

The stock had outperformed the market over the past one month till 7 April 2015, rising 29.5% compared with 3.17% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 21.54% as against Sensex's 5.97% rise.

The mid-cap company has an equity capital of Rs 4.75 crore. Face value per share is Re 1.

Shares of Kitex Garments have been on a roll recently, surging 53.86% in six trading days from a recent low of Rs 512.80 on 27 March 2015. The rally caught momentum after the company reported strong Q4 results during market hours on 6 April 2015.

Kitex Garments' net profit rose 97.5% to Rs 41.63 crore on 21.8% growth in net sales to Rs 147.69 crore in Q4 March 2015 over Q4 March 2014.

Kitex Garments is engaged in business of manufacturing and exporting infant garments.

Powered by Capital Market - Live News