Volume Shocker: Lovable Lingerie

A combined 4.98 million shares representing 90% of total free-float equity of the company have changed hands on the counter on the NSE and BSE

Lovable Lingerie has zoomed 18% to Rs 390 on back of heavy volumes on the counter. A combined 4.98 million shares representing almost 90% of total free-float equity of the company have changed hands on the counter so far against an average 1.42 million shares that were traded daily in past two weeks.

The company engaged in manufacturing women's innerwear has 16.8 million total outstanding shares as on June 2012, of which 66.96% are with the promoters.

Analyst at Anand Rathi Financial Services Limited expects lower revenues (of premium products) and realizations for FY13 owing to a bleak economy, but remains confident of volume growth. Also, firm raw material (cotton) prices will help maintain EBITDA margins at around 17% in FY13.