Multibagger Small Cap Stock Under Rs 52 Jumps As Promoter Raises Stake

Swadeshi Polytex shares witnessed a surge of 2.38% on Friday and soared 14% In last 1-week after the company's promoter acquired 3,84,523 Shares on September 22 and 275877 shares on September 25, according to the BSE filing of the company. Swadeshi Polytex Ltd stock rallied 979% in last 2-years and gained 43% YTD. Check details below:

Promoters Raise Stake In Swadeshi Polytex Ltd: According to the BSE filing of the company issued on September 25, 2023, "This is to inform you, one of the promoter, Paharpur Cooling Towers Limited has intimated us that it has acquired our Shares from open market i.e. 3,84,523 Shares on 22nd September, 2023. We are enclosing the declaration received from the promoter for your information."

As per September 27, 2023 regulatory filing, one of the promoters, Paharpur Cooling Towers Limited acquired Swadeshi Polytex shares from open market i.e. 275877 shares on 25th September, 2023. We are enclosing the declaration received from the promoter for your information.

As per the shareholding pattern data for the quarter ended June 2023, Swadeshi Polytex's Promoters hold 66.39% stake of the company followed by the public holding 33.54% of the company.

Swadeshi Polytex Stock Outlook & Return: Last trading price of Swadeshi Polytex share on BSE is Rs 44.81 apiece with intraday gain of 2.38% on Friday. Its 52-week high price is Rs 51.68 per share and 52-week low price is Rs 26.60 per share, respectively. The company has a market capitalisation of Rs 174.76 crore. Swadeshi Polytex stock gained 20% in last 6-months, soared 43% YTD, rose 20% in last 1-year, and offered return of 979% in last 2-years. In last 3-years, Swadeshi Polytex shares surged 659% and witnessed a gain of 4336% in last 5-years.

Swadeshi Polytex Financials: The company for the quarter ended June 2023 announced its sale at Rs 4.54 core, down 66.87% as against Rs 13.69 crore in June 2022. It declared its quarterly net profit at Rs 3.91 crore in June 2023, down 63.15% as against Rs 10.62 crore in June 2022. The company's EBITDA stood at Rs 5.10 crore in June 2023, down 61.45% as against Rs 13.23 crore declared in June 2022.

Swadeshi Polytex About: Swadeshi Polytex Ltd was incorporated in 1970. it was promoted by the Swadeshi Cotton Mills Company. It is engaged in the manufacturing of polyester staple fiber, polyester chips and filament yarn. The Company markets polyester staple fiber under the brand name Jailene.

Disclaimer

The stock just highlights the promoters' stake, rally in shares is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.