This Jockey Franchisee Stock Hits New High For The 2nd Day; Rises 18% In July-September

Shares of Page Industries which is the licensee of Jockey International Inc. (USA) for manufacture, distribution and marketing of the Jockey brand in India and other countries has been showing upmove for the last few sessions. The stock in trade on July 28, 2022 has hit a fresh record high of Rs. 47,671.55 per share on the NSE.

It is the second most expensive stock in the country in price terms after MRF. This stock in fact is not just expensive in price terms but also on the valuation front. Currently, in comparison to the sector P/E of 43.23, this stock is commanding a rich valuation or P/E multiple of 98.55. Also, the stock's Price to book value is relatively on a much higher side at 48.58. The higher P/B value can also be interpreted as that the market values a company's shares far higher than the mere value of its assets.

In the March ended quarter, the company posted a decline in revenue at Rs. 1111.11 crore sequentially. Nevertheless, the net profit at the company logged a surge to Rs. 190.52 crore as against Rs. 115.56 crore in the previous quarter.