The SPL Industries stock rose to fresh 52-week high in early trade today continuing its record run during the last one month. The stock has more than doubled since July 30, 2018 to 52.45 level reached in early trade today. On July 30, the microcap stock stood at 26 level on the BSE.
At 10:24 am, the stock fell 4.99% to trade 48.55 level on the BSE.
SPL Industries is a high beta stock and has a beta of 1.13 with the Sensex. The company posted strong Q1 earnings in the current fiscal.
The firm posted a net profit of Rs 6.59 crore for the quarter ending June 2018 compared to Rs 3.76 crore loss in the corresponding quarter of previous fiscal.
Operating profit for the quarter ending June 2018 rose to Rs 7.45 crore compared with Rs 3.36 crore loss in the corresponding quarter of previous fiscal.
On annual basis, the firm logged 213% rise in operating profit in the last fiscal. It posted Rs 7.09 crore in operating profit for the fiscal ending March 2018 compared to Rs 2.27 crore in operating profit for the fiscal ending March 2017.
Net profit rose 271% to Rs 5.39 crore for March 2018 fiscal compared to Rs 1.45 crore net profit for the fiscal ending March 2017.
The stock of garment company manufacturer has gained 158.24% during the last one year and risen 109.72% since the beginning of this year.
The firm's competitors in the industry are Raghuvir Synthetics, Surat Textile Mills, Suditi Industries, AI Champdany Industries, Amarjothi Spinning among others.
SPL Industries Limited is a garment manufacturing company. The company's primary business segments are sale and export of cotton knitted garments and made ups, and processing charges. The company designs, manufactures and sells a range of outer wear, such as t-shirts, sweat shirts and polo shirts for various customers in the international market. It operates over five factories in Faridabad.
Meanwhile, the benchmark BSE Sensex rose nearly 100 points to reach intra day high of 38,989.65, and Nifty reached a peak of 11,751.05, up 12.55 points or 0.11 per cent
The rupee opened lower by 22 paise to 70.32 against the US dollar today, hurt by fresh demand for the American currency from importers.