Bombay Dyeing stock hits fresh 52-week high, up 238% since beginning of this year
BT Online September 8, 2017
The Bombay Dyeing stock is the stock to watch out for in the near future. It has surged 238.94 percent or 112 points since the beginning of this year.
On an year-on-year basis, the stock is up 219.88 percent or 109 points on the BSE.
The firm is in news after it said on Thursday it sold 48.457 acre of freehold land sitauted at village Dhoksanghvi, Taluka Shirur district in Pune Maharashtra for Rs 13.57 crore.
Shares of the firm are up 30.68 percent in the last five trading sessions.
The stock touched a new 52-week high of 161.05 level on the BSE today.
The Mumbai-based firm posted revenue of Rs 622.9 crore in Q1, registering a rise of 30.8% year-on-year. The real estate segment primarily led to the increase in revenues.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter rose by 7.3% year-on-year to Rs 74.5 crore with a corresponding margin contraction of 261 bps. The firm's net loss narrowed to Rs 32.7 crore compared with Rs 43.6 crore in Q1 FY17.
The firm is engaged in finishing of cotton and blended cotton textiles; manufacturing of bedding, quilts, pillows and sleeping bags; real estate activities, and manufacturing of polyester Staple Fiber (PSF). The company's segments include textile, polyester and real estate.
Its geographical segments include India and rest of the world. The company offers Single Bed, Double Bed, King Size Bed, Bath Towel, Hand Towel, Face Towel, Towel Sets, Bathrobe, Dohar, Duvet Cover, Blankets, Comforters and Diwan Set.
Its offerings include Snow White, Tulip, Santino, Reverie, Super Ultrx, Honeycomb, Floral Fiesta, Cardinal, Eternia, Spree, Rasso and Joanna. The Company's plants include a textile processing unit, which is located in Pune, and PSF Plant, which is located in Maharashtra. Archway Investment Company Limited is a subsidiary of the company.