Buzzing Textile Stock: Only buyers in Multibagger Amarjyothi Spinning Mills
The shares of Amarjyothi Spinning Mills were locked in the upper circuit on Thursday after the share price gained by ~10 per cent on an intraday basis.
The reason behind such outperformance is the outstanding quarterly results where the PAT increased manifold YoY. Total Income was reported at Rs 6157.18 lacs Vs Rs 2194.86 lacs in the corresponding quarter previous year. The PAT was declared at Rs 378 lacs for the current quarter versus Rs 74.96 lacs for the similar quarter previous year.
The EPS was reported at Rs 5.61 per share compared to Rs 3.76 per share EPS for the previous quarter and Rs 1.11 per share for the similar quarter previous year.
Amarjyothi Spinning Mills share price has increased by more than 28 per cent in one month while in 2021 alone the share price of Amarjyothi Spinning Mills jumped by 61 per cent. In one year the stock is up by 222 per cent.
Amarjothi Spinning Mills is engaged mainly in the manufacture of yarn. The Company owns Ten wind mills mainly for captive consumption purpose only.