The Page Industries stock rose as much as 6.5% to its all-time high of Rs 26,295 after the garments manufacturing and trading company said it has extended licence agreement with Jockey International till December 31, 2040. Its market capitalisation rose to Rs 28,835 crore on the BSE. The stock posted its biggest intraday percent gain since May 25. At 1:21 pm, the stock was trading 4.77% or 1,176 points higher at 25,852 level on the BSE. The stock has gained 61.18% during the last one year and has risen 1.53% since the beginning of this year.
The stock has been gaining for the last two days and has risen 6.19% during the period. The stock opened with a gain of 3.26% today. It is among the top five expensive stocks in the Indian market.
The Jockey brand is available in over 1400 cities and towns. Page Industries sells Jockey brand products through exclusive brand outlets (EBO), large format stores (LFS), multi brand outlets (MBO), traditional hosiery stores and multi-purpose stores spread across India.
The firm announced its Q4 earnings on May 25, 2018. Since then the stock has gained nearly 11 percent or 2,560 points on strong earnings.
The company reported a 41 percent rise in its March quarter (Q4FY18) net profit to Rs 94.2 crore compared to Rs 66.8 crore in the corresponding period last year. Its stock has risen
Its revenue rose 22.3 percent at Rs 608.4 crore in Q4 against Rs 497.3 crore in the corresponding quarter of 2016-17.
Its operating profit or EBITDA rose 51 percent at Rs 146.8 crore in Q4 and margin rose 450 bps at 24.1 percent.
The board declared fourth interim dividend of Rs 35 per equity share for 2017-18.
Page Industries is engaged in the business of manufacturing and trading of garments. The company offers knitted garments. The company offers a range of products for men, women and children. The company is engaged in the manufacturing, distribution and marketing of Jockey products. It holds licence of SPEEDO, an international brand for swim wear.