Shiva Texyarn stock zooms 20% after firm wins order from defence ministry

Shares of Shiva Texyarn zoomed 20 per cent in early trade today after the firm won an order worth Rs 11.90 crore from the defence ministry. The order relates to supply of 35,000 bags for defence personnel.

Shiva Texyarn stock climbed 19.8 per cent to Rs 272 against the previous close of Rs 227.05 on BSE.

The microcap stock has gained after three days of consecutive fall. The stock opened with a gain of 3.5 per cent at Rs 235 on BSE. Shiva Texyarn shares are trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has gained 69.77 per cent in one year and risen 5.53 per cent since the beginning of this year.

At 12:01 pm, the stock was trading 8.17 per cent higher at Rs 245.60 against the previous close of Rs 227.05 on BSE.

Total 0.15 lakh shares of the firm changed hands amounting to a turnover of Rs 38.31 crore on BSE. Market cap of the firm surged to Rs 317.65 crore on BSE.

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The stock hit a 52-week low of Rs 127 on April 23,2021 and a 52-week high of Rs 322.15 on January 20,2022.

Shiva Texyarn reported an 8.68 per cent rise in consolidated net profit at Rs 6.01 crore for the quarter ended December 31, 2021 against a net profit of Rs 5.53 crore in the year-ago period. Company's sales jumped 55.19 per cent to Rs 150.13 crore against Rs 96.74 crore a year ago.

Operating profit, excluding other income, climbed 37.82 per cent to Rs 16.47 crore in Q3 against Rs 11.95 crore profit in the corresponding quarter of previous fiscal.

Shiva Texyarn Limited is engaged in the manufacturing of cotton yarn and technical textile products such as coated and laminated fabrics, home textile, and other value-added products. The company is also engaged in the technical textile business of manufacturing of coating and laminated fabrics which serves the needs of the sectors like healthcare, armed forces, and advertising among others.