In the early morning session on Friday, the shares of Nandan Denim gained by over 11.4 percent, trading at ₹22.8 per share. In the past week, the stock price of Nandan Denim gained by around 45.6 percent. An investment of ₹1,00,000 in the stock would have left investors wealthier by ₹47,000 in the past 5 trading sessions alone.
On April 5th, 2023, Nandan Denim disclosed a filing with BSE, confirming that they identify the company as a large corporate enterprise. The filing also showed the highest crediting rating for the firm in the last financial year of BBB, issued by credit rating agency ICRA Ltd.
Nandan Denim is a penny stock, with a market capitalization of ₹328.66 crores. As the name of the company suggests, it is involved in the manufacture and sale of fabrics like Denim, Yarn, and shirt fabrics. They supply their fabric products to over 28 countries worldwide.
The scrip gained by over 45 percent in 5 days, but has shed about 65.8 percent of its value in the past year.
The company posted revenues of ₹262 crores in the quarter ending December 2022. The 9M FY2023 revenues of the company stand at ₹1,570 crores and a net loss of ₹1 crore. To compare, its FY 2022 sales figures were ₹2,176 crores, netting profits of ₹68 crores for the full financial year.
The latest shareholding of the company shows promoters own almost 2/3rds of the company (64.74 percent), with a minor increase in stake (0.01 percent) in the quarter ending June 2022. The remaining stake in the company is held by the public (34.75 percent), and a small percentage is held by FIIs (0.52 percent) and the government (0.01 percent).
Nandan Denims is a penny stock with higher volatility. Penny stocks are small companies with stocks that are susceptible to rapid price changes and are unpredictable. Always do your own research before investing in such stocks.
Written by Karan N
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