Kitex Garments hit 20% upper circuit at Rs 295.05 at 14:10 IST on BSE after net profit jumped 84.5% to Rs 24.12 crore on 38.9% rise in net sales to Rs 148.61 crore in Q2 September 2017 over Q2 September 2016.
The result was announced on Saturday, 4 November 2017. The stock had jumped 5.27% to Rs 245.90 on Friday, 3 November 2017, ahead of Q2 results.Meanwhile, the S&P BSE Sensex was up 117.17 points, or 0.35% to 33,802.73. The S&P BSE Small-Cap index was up 100.84 points, or 0.56% to 17,956.87, outperforming the Sensex.
High volume was witnessed on the counter. On the BSE, 1.45 lakh shares were traded in the counter so far, compared with average daily volumes of 9,514 shares in the past one quarter. The stock was locked at a high of Rs 295.05 in intraday trade. The stock had hit a low of Rs 266.40 so far during the day. The stock had hit a 52-week high of Rs 384.29 on 25 April 2017. The stock had hit a 52-week low of Rs 198 on 18 October 2017.
The stock had outperformed the market over the past one month till 3 November 2017, gaining 16.26% compared with 6.95% gains in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 4% as against Sensex's 4.49% rise. The scrip had also underperformed the market in past one year, dropping 19.49% as against Sensex's 22.8% rise.
The small-cap company has equity capital of Rs 6.65 crore. Face value per share is Re 1.
Kitex Garments' board approved first interim dividend of 75 paisa per share for the financial year ending 31 March 2017 (FY 2017).
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Kitex Garments is a producer of children's apparel. It caters to conglomerates in USA and Europe.
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