This Stock Hit Market Price Of Rs. 36000;100 Times Its IPO Issue Price Of Rs. 360

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    The stock of Page Industries which is the exclusive licensee of Jockey International Inc. for India, Sri-Lanka, Nepal, Bangladesh and Maldives is a Genomal Group established firm. The firm established in the year 1995 has made a new landmark on the bourses by hitting stock market price of 100 times the issue price when the company's IPO was floated way back in the year 2007.

    This Stock Hit Market Price Of Rs. 36000;100 Times Its IPO Issue Price

    Some interesting facts about the stock

    The company has been doing exceptionally good when it comes to its finances and has for over 11 years of listing maintained an ROE or return on equity at over 50%.

    The stock during its initial period offering saw a very tepid response and was bagged at the lower end of the price band Rs. 360- Rs. 395. In fact on the listing day, the stock due to heavy selling, settled below the issue price at Rs. 282.1. The subscription to the IPO issue was for a minimum of 15 stocks at Rs. 360 per share which means investors who still hold on to the share have a kitty worth now Rs. 5,40,000.

    Over the years, the company's profitability has been increased by 21 times while its revenue has also increased by a factor of 17.

    The expensive valuation of the stock which is at 68X FY20e earnings is justifiable in light of the company's mainstream position in the business, distribution as well as healthy financials. Also, as per the company's executive's exclusive interview to one of the leading business channel, the company's approach of ""Our biggest competition is ourselves" is more likely to take it way ahead in coming years.

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