Introduction:
Textile stock hit a 5% upper circuit, reaching ₹637.15, after announcing a Board meeting on November 22, 2024, to consider a Bonus Equity Shares proposal.
Share Price movement of Kitex Garments Limited:
On November 19, 2024, Kitex Garments Ltd. opened at ₹636.95, marking a 0.03% increase from its previous close. The stock reached an intraday high of ₹637.15, hitting the 5% upper circuit, and an intraday low of ₹624.00, reflecting a 2.05% decline.
By 12:00 PM, stock is trading at ₹637.15, securing a 5% gain. The market capitalization for the day stood at ₹4,237.05 crore, showcasing strong investor confidence.
Kitex Garments Limited company to consider bonus issue:
As per Regulation 29(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Kitex Garments Limited has scheduled a Board of Directors meeting on Friday, November 22, 2024. The agenda includes considering a proposal for declaring and recommending Bonus Equity Shares, subject to shareholder approval.
In accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company’s Code of Conduct, the trading window for designated persons and their immediate relatives will remain closed starting November 19, 2024.
The trading window will reopen 48 hours after the Board of Directors makes a formal declaration or recommendation. This measure ensures compliance with insider trading regulations, safeguarding the integrity and transparency of the company’s decision-making process.
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Recent news About Kitex Garments Limited:
As of November 4, 2024, Kitex Garments Limited, a leading manufacturer of infant garments, reported strong financial results for Q2 FY 2024-25. Total revenue rose to ₹220.91 crore, a 58% increase from ₹139.48 crore in the same period last year.
Profit before tax surged by 188%, increasing from ₹18.56 crore to ₹53.52 crore. Net profit nearly tripled to ₹39.94 crore, up from ₹13.21 crore. The EBITDA margin also improved significantly, reaching 27.68% compared to 18.25% in Q2 of the previous year, showcasing robust operational performance.
Stock performance of Kitex Garments Limited for Period of 1 week, 6 months and 1 year:
Kitex Garments stock performance over the past week showed a marginal decline of -0.58%. However, it delivered impressive returns of 186% over six months and an outstanding 188% over the past year, highlighting its strong growth potential and market appeal.
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Shareholding pattern of Kitex Garments Limited:
| Summary | Sep-24 | Jun-24 | Mar-24 |
| Promoter | 56.70% | 56.70% | 56.70% |
| FII | 0.70% | 0.80% | 1.00% |
| DII | 0% | 0% | 0% |
| Public | 42.60% | 42.50% | 42.40% |
About Kitex Garments Limited:
Kitex Garments Limited, one of the world’s largest infant garment manufacturers, specialises in high-quality, export-oriented apparel. Headquartered in Kerala, India, the company focuses on sustainable production, catering to global markets with innovative designs and a commitment to excellence in the textile industry.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
