The shares of this textile company gained up to 7 percent after the company acquired the ownership rights of approx 10-acre leasehold land parcel in Worli worth Rs 1,100 crore.
With a market capitalization of Rs 29,422.88 crore, the shares of Century Textiles and Industries Ltd were trading at Rs 2,634.20 per share, increasing around 6.13 percent as compared to the previous closing price of Rs 2,482.40 apiece.
Reason for rise:-
Today, the company has seen a bullish movement in its shares after Century Textiles and Industries Ltd purchased Mr. Nusli Wadia’s ownership rights to an approximately 10-acre leased property lot in Worli, Mumbai. CTIL’s current leasehold interest is consolidated with ownership rights as part of the deal. This transaction has cost Rs. 1,100 crore.
Moreover, this 10-acre property piece has an estimated booking value of Rs 14,000 Cr. for the corporation. The transaction allows for a 30-acre continuous landholding in a desirable location, with a booking value of almost Rs 28,000 Cr.
Also read: Blue chip stock in focus after company invests $300 Mil to produce 15 types of semiconductors
Financial Condition:-
Examining the company’s financial performance, revenue soared by 28 percent from Rs 894 crore in Q1FY24 to Rs 1,149 crore in Q1FY25, but during the same time frame, net profit increased by 342 percent from a loss of Rs 7 crore to a profit of Rs 17 crore.
Remarkable Return and Capacity:-
The stock has delivered returns of 81.56 percent in the last six months and a multi-bagger return 149.44 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 2.49 lakh in a year.
Century Textiles is making technical upgrades, removing bottlenecks, and balancing the plants at its Paper Mills 3 and 4, which have a monthly capacity of 7,200 Mt each. After the operation, capacity will increase to 8,500 Mt each. The company is also installing a new evaporator, which will reduce its power costs.
Prominent Clients:-
Century Textiles and Industries has some prominent clientele which includes Louis Philippe, Cotton King, Blackberrys, Turtle, US Polo, M&S, Levi’s, Macy’s, Costco, Grorge, etc.
Also read: Textile stocks under ₹ 100 with high piotroski score of 9 to keep on your radar
Company Snapshot:-
Century Textiles & sectors Ltd grew into a commercial powerhouse with stakes in a variety of sectors. Currently, the company is a trendsetter in cotton textiles and has a strong presence in the pulp & paper and real estate industries.
Written by:- Abhishek Singh
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