Emkay Global Upbeat On 2 Small, Mid Cap Textile Stocks, Sees Shares Rising, Buy

Emkay Global has recommended investors to buy 2 small cap and mid cap Textile sector stocks that are showing potential to soar in near term. These 2 stocks are Nitin Spinners and Vardhman Textiles. If you buy these two stocks now, you can get potential return of 47%. Check details below:

1. Buy Nitin Spinners

Emkay Global has assigned buy call to Nitin Spinners with a target price of Rs 302 apiece. Last trading price of Nitin Spinners is Rs 205.90 apiece with intraday gain of 1.25%. If you buy Nitin Spinners now at the last trading price, you can get potential return
of 47%.

The company has a market capitalisation of Rs 1,157.57 crore. Its 52-week high is Rs 279.95 apiece and 52-week low is Rs 182.10 apiece, respectively. The stock gave a return of 12% in last 3-months declined 22% in last 1-year, soared 156% in last 2-years, and gave 302% return in last 3-years.

The company for the quarter ended December 31, 2022 declared a standalone total income of Rs 537.49 crore, up 6.07% from last quarter total income of Rs 506.72 crore.

2. Buy Vardhman Textiles

Emkay Global has given buy rating to Vardhman Textiles with a target price of Rs 440 apiece. Last trading price of the stock is Rs 313.40 apiece. If you buy Vardhman Textiles shares at last trading price, you are likely to get a potential return of 41%.

It has a market capitalisation of Rs 9,061.24 crore. The stock's 52-week high is Rs 564.59 apiece and 52-week low is Rs 245.50 apiece, respectively. Its consolidated total income for the quarter ended December 31, 2022 stood at Rs 2436.92 crore, down 2.52% from previous quarter total income of Rs 2,499.98 crore.

The stock gave a return of 37% in last 2-years, 45% in last 3-years, and 15% in last 5-years. It declined 36% in last 1-year.

Disclaimer

The stocks have been picked from the brokerage report of Emkay Global. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.