Synopsis:
Ken Enterprises Ltd shares are in the spotlight after Nexus Global Opportunity Fund bought a fresh 0.55% stake via bulk deal.
The penny stock listed below saw notable price movements during Wednesday trading session after large bulk deal transactions were completed on the stock exchanges on July 29. These variations show how the market and investors felt about the significant buying and selling that took place during that time.
With a market capitalization of Rs. 144.94 crore, Ken Enterprises Ltd is currently trading at Rs. 59, down 4 percent from its previous close of Rs. 61.45. The stock touched an intraday high of Rs. 64.85 in today’s trading session gaining 5.53 percent from previous close.
What’s the deal?
As per the latest bulk deal on NSE, Nexus Global Opportunity Fund , has bought ~1.34 lakh shares of Ken Enterprises Ltd worth ~Rs. 0.83 crore at an average price of Rs. 61.58, making a fresh stake of 0.55 percent in the company.
Also Read: NBFC stock jumps 5% after company’s net profit increases 171% QoQ
About the company
A small-cap textile company, Ken Enterprises Ltd. has been producing regular and sustainable greige and finished fabrics for more than 25 years. With its headquarters located in Ichalkaranji, Maharashtra, it uses a light asset model and relies on outside manufacturers in the regional textile center.
The company supplies more than 415 customers, exports to more than 20 countries, and is an authorized vendor for international brands like Primark, Target, and Zara. Its wide variety of fabrics serves industrial applications, home textiles, and clothing. It is a rising leader in the textile industry with a strong emphasis on sustainability, quality, and design-to-delivery solutions.
The company’s revenue for FY2024–2025 increased by 24.77 percent year over year from Rs. 214 crore to Rs. 267 crore. Net profit saw an incline of 40 percent, from Rs. 5 crore to Rs. 7 crore.
At the movement company is trading at a price-to-earnings (P/E) ratio of 12.2x which is lower than industry P/E of 27.8x. A return on equity (ROE) of about 15.8 percent and a return on capital employed (ROCE) of about 28 percent demonstrate the company’s strong position. Significant improvement in the debt-to-equity ratio to 0.32x suggests sound financial management and less leverage.
Written by Akshay Sanghavi
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