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Eriska Investment Fund, a Mauritius-based foreign investment firm has bought a stake in Filatex Fashions Ltd, a small cap company listed on the Bombay Stock Exchange (BSE). 

As per the bulk deal details available on BSE’s website, the foreign institutional investor (FII) bought 7 lakh shares of the company at a price of ₹ 9.17 apiece in a bulk deal executed on September 22, 2022. This means that it has invested ₹ 64.19 lakh in this penny stock. 

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Filatex Fashions Ltd is engaged in the business of manufacturing luxury socks, ethnic wear, handbags and backpacks. Its clientele includes FILA, Sergio Tacchini, Adidas, Walt Disney and many other top labels of the fashion world. Further, it is a supplier to major e-commerce giants like Amazon, Flipkart, Snapdeal, and Shop clue. 

The company’s shares attracted bulls’ attention soon after the news came out. As a result, volumes spurt during Thursday’s session and the trend continued on Friday. The shares are locked at ₹ 9.62 apiece after surging 4.91%. 17,20,401 shares changed hands on the bourses on Friday. 

The company’s share price increased by a whopping 38.62% in the past five days. In the past year, the share price of the company has risen from ₹ 2.75 apiece to ₹ 9.62, giving multibagger returns of 237.54%. If an investor would have invested ₹ 1,00,000 in the shares of the company a year ago, the value of their holdings would have been ₹ 3,37,540 today! 

Written by Simran Bafna 


The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

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