Share Market News: Nandan Denim Gains 14 Percent As Market Rebound Today

Shares of Nandan Denim Limited surged 14 as benchmark equity indices rebounded in early trade on Thursday amid steady foreign fund inflows along with buying in frontline stocks Reliance Industries and HDFC Bank.
The counter opened in red at Rs 45.71 on the BSE but gained to touch the intra-day high of Rs 52.21. The scrip had closed at Rs 45.61 in the last trading session. The 52-week high of the stock is Rs 57.95 and the 52-week low is Rs 20.45. The market cap of the company is Rs 742 crore.
Earlier, the company’s sales surged 26.68 per cent to Rs 579.12 crore in the fourth quarter of the FY24. It was Rs 457.16 in the same quarter a year ago. The company’s standalone net profit stood at Rs 7.49 crore in the June quarter as compared to Rs 1.70 crore in the same quarter an year ago. The revenue from operations surged by over 30 per cent year-on-year (YoY) basis to Rs 721 crore. This was Rs 553 crore in June qurter of the previous fiscal.
The company reported a net profit of Rs 44.97 crore in the quarter ending March 31, 2024 as against Rs 0.53 crore during the previous year ended March 2023. However, the sales declined to Rs 2010.09 crore in the fourth quarter of FY24 as against Rs 2026.76 crore during the previous year ended March 2023.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)