Shares of Damodar Industries gained 20 per cent amid a rising market today. Damodar Industries stock gained 19.96 per cent to Rs 59.5 against the previous close of Rs 49.60 on BSE. The stock was locked in upper circuit in the afternoon session today.
Damodar Industries stock is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Damodar Industries stock opened higher at Rs 49.90.
The stock has gained 34.77% in the last 3 days. In a week, the stock has risen 33.56%. In a year, the stock has risen 35.69 per cent and gained 2.94% in 2022.
Total 0.73 lakh shares of the firm changed hands amounting to a turnover of Rs 41.92 crore on BSE. The market cap of the firm rose to Rs 138.64 crore.
The stock hit its 52-week high of Rs 78.75 on February 8, 2022 and a 52-week low of Rs 36.50 on June 20, 2022.
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In terms of financials, Q2 was not encouraging for the firm. The firm reported a loss of Rs 1.56 crore in Q2 against a profit of Rs 3.19 crore in the corresponding quarter of the previous fiscal. Sales fell 26.87 % to Rs 152.19 crore in the September quarter against Rs 208.11 crore in the corresponding quarter of the previous fiscal.
On a quarter-on-quarter basis too, firm reported a loss compared to a profit of Rs 2.55 crore in Q1 of the current fiscal. Sales fell 19.35% from Rs 188.71 crore in the June quarter of the current fiscal.
In the first half of the current fiscal, the firm reported a 82.63% fall profit at Rs 0.99 crore against Rs 5.70 crore in the first half of the previous fiscal. Sales fell 17.01% in H1 to Rs 340.90 crore against Rs 410.78 crore in the first half of the previous fiscal.
Damodar Industries Limited is engaged in the activities of manufacturing, processing and merchant trading of cotton yarn and fancy yarn. The company is engaged in textile business. The company's products include air texturising, cotton yarns, linen blends, special blends, synthetic yarns and yarn dyeing. The company has six manufacturing facilities.
Meanwhile, Sensex hit all-time high of 62,690 and Nifty scaled new peak of 18,611 in the afternoon session. BPCL, Reliance, Hero MotoCorp, Asian Paints, Wipro were among the top gainers.
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