Shares of this apparel stock under the ‘small-cap’ category jumped around 6 percent in Thursday’s trading session after Bank of America Securities Europe SA bought approximately 12.63 lakh equity shares of the company.
With a market capitalization of Rs 2,179.74 crores, the stocks of Cantabil Retail India Limited closed at Rs 267 on Thursday, gaining a whopping 6 percent as compared to the previous closing levels of Rs 252.35 apiece. The scrip is inching towards its 52-week high price registered at Rs 282.52.
Such sharp stock price movements were observed after the company’s ‘Bulk Deal’ data, 6th December 2023, showed a transaction where “Authum Investment & Infrastructure Limited” sold 10 lakh shares, and, Bank of America Securities Europe SA, on the other hand, bought approximately 12.63 lakh equity shares of the company.
In the last five trading sessions, the company’s stock has gained over 30 percent spiking from Rs 202.50 on 1st December 2023 to the current stock price levels.
During the recent financial quarters, the company’s operating revenues and net profits have portrayed opposing movements with the former, on one end, increasing from Rs 111.77 crores during Q1FY23-24 to Rs 135.11 crores during Q2FY23-24, and, the latter, due to increased operating expenses, slipped from Rs 12.27 crores to Rs 7.50 crores.
In addition, the company’s profitability metrics increased with the return on equity (RoE) increasing from 26.79 percent during FY21-22 to 35.25 percent during FY22-23, and, the return on capital employed (RoCE) rising from 56.07 percent to 58.02 percent.
As per the recent presentations shared by the company, there has been an increase of around 16.70 percent YoY considering the volume growth. Moreover, the company added 21 stores in Q2FY23-24.
Cantabil Retail India Limited is a garment manufacturing and retailing company based in India that is engaged in the business of designing, manufacturing, and retailing apparel through a wide range of retail stores. The company’s segment comprises men/women/kids wear, and other accessories.
Written by Amit Madnani
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