EIE shares zoom up by 9.9%

Eurotex industries zooms in the first half of the trading session gaining more than 9% on Friday even as the broader markets reel under pressure with major indices trading in red.

Jan 20, 2017 06:01 IST India Infoline News Service

Sensex, Nifty

Eurotex industries (EIE) zooms in the first half of the trading session gaining more than 9% on Friday even as the broader markets reel under pressure with major indices trading in red.

The stock is gaining traction along with increasing volumes as the stock witnessed a spurt in volumes by more than 1.76 times. The stock is up by more than 30% in one week’s time indicating the positive momentum of the stock.

In the last one year, the stock has given a return of 27.41%. Over one year period, the stock has outperformed the Small-cap index and the BSE 500 index.

Eurotex Industries and Exports is a part of the Patodia Eurotex Group of Industries. The company is operational in textile, raw cotton and ready to wear fashion garments, of which it exports more than 50%.

Stock view:-

Eurotex Industries and Exports Ltd is currently trading at Rs 36, up by Rs 3.25 or 9.92% from its previous closing of Rs 32.75 on the BSE.

The scrip opened at Rs 34.3 and has touched a high and low of Rs 38.6 and Rs 34.3 respectively. So far 66047(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 28.66 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 40.05 on 12-Dec-2016 and a 52 week low of Rs 18.2 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs 35 and Rs 27.25 respectively.

The promoters holding in the company stood at 70.99 % while Institutions and Non-Institutions held 0.61 % and 28.4 % respectively.

The stock is currently trading above its 50 DMA.

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