The inventory gave multibagger returns of 135 per cent in 3 years.
Filatex Trend Restricted’s mining subsidiary, Filatex Mines and Minerals Non-public Restricted has secured its inaugural export order valued at USD 35 million from Bloomflora Ventures Restricted, a world firm engaged in hospital growth. The order entails the provision of two,97,388 metric tonnes of white marble over 7 years for the development of 54 hospitals in Africa. This worldwide contract represents a big milestone for Filatex Mines and Minerals, marking its entry into the worldwide market.
Earlier, the Board accredited a inventory cut up / sub-division of the corporate’s fairness shares (5:1 ratio) from a face worth of Rs 5 per share to Re 1 per share, complying with the provisions of Part 61(1)(d) of the Firms Act, 2013 and different relevant rules. The Board fastened the report date for the inventory cut up as Friday, August 09, 2024.
Filatex Fashions Ltd, a sock producer based in 1995, affords a variety of luxurious socks (Tuscany), enterprise and informal put on socks (Good Man), and sells a greater diversity of designer put on (together with purses and backpacks) by way of their on-line retailer Vogue4all .com. The corporate has a robust fame for high quality, having equipped socks to main style manufacturers like FILA, Adidas, and Disney, and is at present acknowledged as a small enterprise by the Indian authorities.
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The corporate has a market cap of Rs 1,100 crore and has delivered good revenue progress of 96.6 per cent CAGR over the past 5 years. In accordance with Quarterly Outcomes (Q4FY24) and annual outcomes (FY24), the corporate reported optimistic numbers and the inventory is buying and selling at 0.48 occasions its e-book worth of 13.8.
On Friday, the shares of Filatex Fashions Ltd gained 2.01 per cent to Rs 6.60 per share with an intraday excessive is Rs 6.78 and an intraday low is Rs 6.48. The inventory’s 52-week excessive is Rs 21.50 and its 52-week low is Rs 6.44. FIIs purchased 3,19,378 shares and elevated their stake to 0.02 per cent in June 2024 in comparison with Nil shareholding in March 2024. The inventory gave multibagger returns of 135 % in 3 years. Buyers ought to preserve this penny inventory beneath watchlist.
Disclaimer: This text is for informational functions solely and never funding recommendation.
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