Introduction:
Textile stock secured approval to issue 13.3 crore bonus equity shares in a 2:1 ratio. The record date is January 17, 2025, with trading beginning on January 21, ensuring timely compliance and shareholder benefits.
Share Price movement of Kitex Garments:
On January 7, 2025, Kitex Garments Ltd opened at ₹642.60, hitting an intraday low of ₹630.00 and a high of ₹694.10. The stock closed at ₹694.10, up 5% from the previous close of ₹661.05, with a market cap of ₹4,615.77 crore.
Kitex Garments share price rise:
Kitex Garments Limited announced receiving in-principle approval from BSE and NSE for issuing 13.3 crore bonus equity shares in a 2:1 ratio. Shareholders’ approval for this allotment was obtained via a postal ballot on December 30, 2024.
The company has set January 17, 2025, as the record date to determine shareholder eligibility for the bonus shares. The deemed date of allotment is January 20, 2025, ensuring timely issuance and compliance with SEBI regulations.
These bonus shares will be available for trading on January 21, 2025, the next working day following the allotment. The process aligns with SEBI’s circular dated September 16, 2024, ensuring transparency and efficiency.
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Recent news About Kitex Garments :
On November 4, 2024, Kitex Garments Limited reported a 58% YoY revenue growth to ₹220.91 crore for Q2 FY24-25. Profit before tax surged 188%, and net profit nearly tripled, reflecting improved margins and operational efficiency.
Ace investor holding of Kitex Garments:
Ace investor Usha C P holds 33,56,323 shares of Kitex Garments Ltd, valued at ₹233.0 crore at the current price of ₹694.1, reflecting her significant confidence in the company’s long-term growth and market potential.
Stock performance of Kitex Garments for Period of 1 week, 6 months and 1 year:
Kitex Garments’ stock delivered remarkable performance over the longer term, gaining 205% in six months and 189% over the past year. However, it saw a slight decline of 0.92% in the past week, reflecting short-term market fluctuations.
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Shareholding pattern of Kitex Garments:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 56.66 | 56.66 | 56.66 |
| FII | 0.74 | 0.82 | 0.97 |
| DII | 0 | 0 | 0 |
| Retail & others | 42.61 | 42.52 | 42.38 |
About Kitex Garments:
Kitex Garments is a leading textile company specializing in infant wear manufacturing and exports. Known for quality and innovation, it serves global markets with state-of-the-art facilities, strong sustainability practices, and a focus on delivering premium products.
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.
