Textile stock jumps 11% despite FII sold 3% stake in the company

This stock is in focus after the Luxembourg-based Investment Company has sold 2.92 percent stake in the textile manufacturer worth 12.16 Crores on Tuesday.

Share Price Movement

With a market capitalization of Rs. 463 Crore, the stock of Banswara Syntex Limited opened at Rs. 125.35, the same level as yesterday’s close, but after opening it made a high of Rs. 139 up 10.84 percent. 

Stake Sale By FII

Cofipalux Invest, a Luxembourg-based Foreign Institutional Investor (FII) which held 6.61 percent stake in the Company as of Q3FY25 shareholding pattern filings, has sold 2.92 percent or 10,00,000 shares in the company worth 12.16 Crore, at the price of Rs. 121.66, reducing their stake to 3.69 percent. The buyer of the shares is not known.

Also read: NSE F&O Expiry: Check the Recent Changes in Expiry Dates for Stock and Index F&O

Financial Highlights

The company reported a 12.25 percent YoY increase in revenue from Rs. 302 Crore in Q3FY24 to Rs. 339 Crore in Q3FY25. On a QoQ basis, the company reported a decrease of 1.16 percent in revenue from Rs. 343 Crore in the previous quarter.

Their Net profit saw an increase of 25 percent YoY from Rs. 8 Crore to Rs. 10 Crore for the same period. On a QoQ basis, the company reported an increase of 100 percent in Net profit from Rs. 5 Crore in the previous quarter.

About the Company

Banswara Syntex Limited, established in 1976 and headquartered in Banswara, Rajasthan, is a leading textile manufacturer specializing in yarn, fabric, and garments. With a vertically integrated setup, the company manages the entire textile value chain, including spinning, weaving, dyeing, finishing, and garment production.

Written By Abhishek Das

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