Bought 41 crore shares of this company, price 9 rupees, shares increased 220%

Philatex Fashions Ltd: Philatex Fashions Ltd shares are in focus these days. Last Friday, the stock fell over 5% to Rs. Closed at 9. On Friday, its intra-day high was Rs. 9.70 and intra-day low Rs. was 8.87. The stock hit a 52-week high of Rs. 21.50 and the 52 week low is Rs. is 8.52. The promoters bought 41,21,05,050 shares and increased their stake to 24.82 per cent in March 2024, from 1.57 per cent in March 2023. The stock has given a multibagger return of 220 percent in 3 years.

Company business

Filatex Fashion Limited, a socks manufacturer founded in 1995, offers luxury socks (Tuscany), business and casual wear socks (Smart Men) and designer clothing (Handbags) through its online store Vogue4all.com and backpacks. The company has a strong reputation for quality, has supplied socks to major fashion brands such as FILA, Adidas and Disney and is currently recognized as a small enterprise by the Government of India.

25 lakh shares of this company were sold, investors panicked, the price fell to ₹48

The stock will go to ₹ 92, buy it now and make a profit, say experts – place your bets.

Stock status

Recently a board meeting was held at Philtex Fashion Limited. The board has approved the stock split in the ratio of 5:1. The stock has fallen 30% YTD. The market cap of the company is Rs. 1,400 crores and has made a good profit of 96.6 percent CAGR in the last 5 years. As per quarterly results (Q4FY24) and annual results (FY24), the company has reported positive numbers and the stock is trading at 0.65 times its book value of 13.8.

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