Gokaldas Exports

Till 09:23 AM, roughly 8.15 million equity shares, representing 13.5 per cent of the total equity of Gokaldas Exports, had changed hands on the NSE

Once FTA with the UK happens, India can potentially see USD1bn of exports from this region

Stocks to watch today: Tata Metaliks reported a sharp fall of 73 per cent in its December quarter net profit at Rs 9.48 crore, on account of increased expenses

Despite near term headwinds, the management anticipate good growth in FY23 and a surge from FY24.

According to a report, global garment retailers are asking Indian exporters to reduce apparel prices as cotton prices have dropped 16 per cent and the Indian rupee has devalued against the US dollar.

A shift in consumer preferences post pandemic towards wovens, as people seek more formal clothes, may improve demand.

With the recent fundraise (QIP: Rs 300 crore), the company has strengthened its balance sheet with a repayment of around Rs 300 crore debt, post which Gokaldas Exports has become net debt free.

Increased volume, better product mix, and improved operational efficiency all contributed to a growing operating profit in Q4.

Gokaldas Exports hit record high of Rs 410.65, up 10% and surpassed its previous high of Rs 405 hit on March 16, 2006.

Brokerage ICICI Securities has maintained a BUY rating on Gokaldas Exports with a revised target price of Rs 425.

Major textile stocks are witnessing sideways to breakout formations, this may see stronger interest of market participants.

ICRA expected strong performance of Gokaldas Exports in the coming quarters on the back of its established market position and strong relationship enjoyed with large international customers.

The company reported 3-fold jump in Q2FY22 consolidated net at Rs 28.61 crore as against a profit of Rs 8.66 crore in a year ago quarter

The company's board in its meeting on October 4, 2021, approved raising up to Rs 300 crore via QIP placement of shares, the floor price for the same was fixed at Rs 194.58 per share.

The company said it has a strong order book and is in the process of augmenting its capacity over the near term, to meet demand and clear Q1FY22 production backlog

The company said it has a strong order book for the coming quarters based on consistent execution and strong credibility in the eyes of its customers

Self-dependence should be interpreted as producing high quality goods required for Indian and global consumption in India with as much value addition as possible in the country, he said

Most units say there are no orders as retailers haven't resumed operations

The stock hit a 52-week high of Rs 103 on BSE, zoomed 43% in past two trading sessions from Rs 72 on May 30.