Multibagger Stock: Go Fashion share price hits new life high – what should investors know?

Go Fashion (India) share price touched a new lifetime high of Rs 1,373.90 and Rs 1374.6 per share on the BSE and NSE intraday, respectively, after surging nearly 6 per cent during Thursday’s trading session on the back of healthy outlook.

The stock has been a mutlibagger as it nearly doubled (99% growth) on Thursday against its issue price of Rs 690 per share. The company made its stock exchange debut on November 30, 2021, during which it had touched a high of Rs 1,341 per share.

At around 12:20 PM, the stock was trading nearly 1 per cent higher at Rs 1309.5 per share on the BSE as against 0.13 per cent fall in the S&P BSE Sensex. In the last one month, the counter outperformed the market by gaining over 18 per cent against nearly 2 per cent fall in the benchmark index.

As per domestic brokerage Antique Broking report, the organised fashion retail industry indicates to consolidation across retailers due to few national players gaining due to closure of a major national player and shift from regional players to national players led by rapid penetration expansion.

The new theme and growth avenues for fashion retailers are athleisure, occasion/ celebration wear (Indian ethnic wear), and private labels in footwear and BPC segment, the brokerage said, adding that the retailers have been extensively expanding their portfolio based on these themes.

Go Fashion (India) is one of the leading women's bottom wear clothing company in India, and markets products under the brand name 'Go Colors'. The company is engaged in the design, sourcing, development, marketing, and retail of women's bottom wear products.

Its bottom wear products include leggings, dhotis, churidars, harem pants, Patiala, palazzos, trousers, culottes pants, and jeggings, sold across different categories such as western wear, fusion wear, ethnic wear, athleisure, denim for women and girls across all age groups and sizes.