On Thursday this mid-cap stock rose 2.3 after the company announced a capacity expansion. The stock has delivered 48% returns in six months. Currently, the company shares are trading 14% below the 52-week high.
Trident (NS: TRIE ) Ltd
Trident Ltd, the company has a market capitalisation of Rs. 19,415 Cr, making it a mid-cap company. On Thursday at 13:40 p.m., the company shares were trading 0.13% down at Rs. 38 on NSE.
According to the company filing, Trident Ltd informed that the existing capacity of the Sheeting Business and Co Gen Power plant at Budhi, Madhya Pradesh has been enhanced with effect from September 27, 2023.
The existing capacity of Sheeting is 1,20,000 Meters/Day and the 49.4 MW Co Gen Power Plant. Now, the company announced the capacity addition of 55,000 Meters/Day and 16.3 MW to the Sheeting business and Co Gen power plant, respectively.
As per the company filing, total revenue declined by 10.6% from Rs. 1,684.6 cr in Q1 FY23 to Rs. 1,505 Cr in Q1 FY24 and for the same period, net profit decreased by 29.3% from Rs. 129.3 Cr to Rs. 91.3 Cr.
As per the latest shareholding information, Promoters hold 73.19%, the public hold 24.29%, DIIs hold 0.05% and FIIs hold a 2.47% stake in the company.
Trident Ltd, the company manufactures terry towels and wheat straws in India. Through its subsidiaries, the company operates in Yarn, Bedsheets and Paper and Chemical Segments. The company earns the majority of its revenue from the towel segment.
Written by Sheshadri N
The post Midcap stock jumps 2% in early trade after company announces capacity expansion; Check the details appeared first on Trade Brains.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.