{"id":104401,"date":"2023-06-22T16:04:46","date_gmt":"2023-06-22T10:34:46","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=104401"},"modified":"2023-06-22T16:48:49","modified_gmt":"2023-06-22T11:18:49","slug":"textile-stock-jumps-11-after-sharing-an-update-on-a-board-meeting-check-the-details","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/textile-stock-jumps-11-after-sharing-an-update-on-a-board-meeting-check-the-details\/","title":{"rendered":"Textile stock jumps 11% after sharing an update on a board meeting: Check the details"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1241021793\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of Swan Energy appreciated to the tune of 11 percent on Thursday\u2019s early trades to reach a fresh intraday high of \u20b9 273.00 apiece, following an update about a meeting of its board of directors. At 01:39 PM, its shares were trading at \u20b9 267.55 apiece up 8.58 per cent.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1047429289\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Swan Energy is a manufacturer and marketer of cotton and polyester textile products in India. Over the years, it has diversified into Real estate and is developing a floating storage and regasification units-based liquid natural gas (LNG) import terminal at Jafrabad in Gujarat.\u00a0<\/p><p>In an exchange filing, the company said that a meeting of its board of directors will be held on Tuesday, June 27, 2023, to consider and evaluate the proposal for raising funds.&nbsp;<\/p><p>With a market capitalization of \u20b9 6,503 crores, Swan Energy is a small-cap company. It has a negative return on equity of 1.89 per cent and a high debt-to-equity ratio of 2.25. Its shares were trading at a price-to-earnings ratio (P\/E) of 425.62, which is significantly higher than the industry P\/E of 26.77, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-576469644\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company\u2019s promoters hold a 64.09 per cent stake in it followed by foreign institutions with 17.14 per cent, retail investors with 15.85 per cent, domestic institutions with 2.89 per cent and mutual funds with 0.03 per cent.&nbsp;<\/p><p>Swan Energy\u2019s net loss narrowed to \u20b9 66.47 crores in FY23 from 157.78 crores in FY22. Its revenue from operations grew by a whopping 195 per cent to \u20b9 1,438.14 crores in FY 23 against \u20b9 487.20 crores in FY22.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By Simran Bafna\u00a0<\/strong><\/p><\/blockquote><div class=\"trade-after-content\" id=\"trade-3842063072\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of Swan Energy appreciated to the tune of 11 percent on Thursday\u2019s early trades to reach a fresh intraday high of \u20b9 273.00 apiece, following an update about a meeting of its board of directors. At 01:39 PM, its shares were trading at \u20b9 267.55 apiece up 8.58 per cent.\u00a0 Swan Energy is a [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":12545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[936,3153,3157,2746,3716,2597,7511,7512,2103,2104,7916,7915,6837,6838,6839],"class_list":["post-104401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-buy","tag-stocks-to-buy-long-term","tag-stocks-to-watch","tag-swan-energy","tag-swan-energy-share-price","tag-textile","tag-textile-industry","tag-textile-stock-to-buy-in-2023","tag-textile-stock-to-watch","tag-textile-stocks","tag-textile-stocks-to-buy-now","tag-textile-stocks-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Textile stock jumps 11% after sharing an update on a board meeting: Check the details - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of Swan Energy appreciated to the tune of 11 per cent on Thursday\u2019s early trades to reach a fresh intraday high of \u20b9 273.00 apiece, following an update about a meeting of its board of directors. 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