Despite stock's rise, Page Industries' near-term outlook not comforting

Delayed winter, higher competition, challenging demand scenario, higher input costs and a high base may hurt volume growth and margins

The stock of Page Industries has risen by 7.5 per cent in the last one month, outpacing leading indices like the S&P BSE Sensex. The latter has gained 1.3 per cent during the same period. Recent reaffirmation of good credit rating (AA/A1+) by ICRA, and expectations of higher growth of high-margin winter wear in December quarter has turned investor sentiment positive towards Page. However, these expectations may not turn true at least in the December quarter, and may lead to some correction in the stock price.

An analyst at a domestic broking house said, "Page would continue to report muted