Shares of this textile company just hit a new 52-week high. Do you own it?

Kiran Shroff
/ Categories: Trending, Mindshare
Shares of this textile company just hit a new 52-week high. Do you own it?

The company achieved a record of 100 per cent returns in just 6 months.

BSE Consumer Discretionary ended the session 0.42 per cent higher or 24.56 points to Rs 5838.72. One of the Top Gainers on the BSE today was BSL Ltd, which was trading up 16.33 per cent to Rs 204.10. Today, the shares of this company made a new 52-week high of Rs 209.80 with a spurt in volume by more than 3 times. The company achieved a record of 100 per cent returns in just 6 months.   

BSL Ltd was incorporated in 1970 and its operation predominantly relates to the manufacturing of textiles & generation of wind power. It is engaged in the manufacturing of woollen yarns, synthetic yarns, blended viscose fabrics and silk fabrics along with furnishing and fashion fabrics. The manufacturing facilities are located in Mandapam in the Bhilwara district of Rajasthan.  

According to annual financial figures, the net sales for FY23 increased by 35.6 per cent compared to the last year. Operating profit for FY23 increased to 37.32 per cent when compared to FY22. In comparison to FY22, when the net profit was only Rs 1.36 crore, it dramatically increased to Rs 11.48 crore or 744.12 per cent, in FY23.    

Over the past three trading sessions, BSL Ltd.’s share price hit 52-week highs and reached consecutive upper circuits. The shares of this company are currently available at a PE multiple of 13.96 and an ROE of 13.48, all of which indicate good management effectiveness.    

Investors must keep an eye on this stock.   

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