Heavy buying witnessed: This smallcap stock got locked at 20 per cent upper circuit today. Do you own it?
The company reported highest ever nine monthly revenue of Rs 2428.4 crore
On Wednesday, shares of Pearl Global Industries skyrocketed and got locked at 20 per cent upper circuit level of Rs 432. The scrip witnessed a massive spurt in volume by more than 41 times.
For quarter ended December 31, 2022, the company’s total income rose by more than 2.4 per cent from last year’s same quarter to Rs 720.30 crore. The firm’s net profitability shot up by more than 108 per cent from the corresponding quarter last year to Rs 44.41 crore.
The company reported highest ever nine monthly revenue of Rs 2428.4 crore, since inception, on account of integration from Alpha acquisition in financials from Q3FY23 onwards, improved product mix, higher realization per unit and improved capacity utilization from Bangladesh and Vietnam. During this year, the company had acquired 52.11 per cent of Alpha Clothing limited.
Pearl Global is a leading apparel manufacturer, incorporated in 1987, offering end-to-end sustainable solutions to the fashion industry. The company’s marquee clientele includes Kohl’s, Macy’s, Tommy Hilfiger, Gap, Old Navy, NEXT, Nordstrom among others.
Keep a close eye on this trending stock.