Top Pick with Anil Singhvi: Sandeep Jain recommends this textile stock for robust returns - Know PAT, target, levels and other details
In yet another episode of Jain Saab Ke Gems, Zee Business Managing Editor, Anil Singhvi spoke to Market Analyst Sandeep Jain on his pick for today.
In yet another episode of ‘Jain Saab Ke Gems’, Zee Business’ Managing Editor, Anil Singhvi spoke to Market Analyst Sandeep Jain on his pick for today.
Jain recommended Shiva Texyarn. It is a south-based company, which was earlier known as Annamalai Finance. The company later moved to the production of textiles and renamed itself. Apart from producing general textiles, it also makes technical textiles like coated and laminated fabrics and home fabrics. The company is already engaged with the production of cotton textiles.
According to the analyst, companies from the textile sector like Vardhman Textiles, Indo Count Industries, Nitin Spinners Ltd., RSWM Limited, Ambika Cotton, and Sattar Textile Mills Limited have been performing remarkably. And Shiva Texyarn is based on strong fundamentals, with great results from the last 5-6 quarters. In September last year, the company gave a PAT (profit after tax) of Rs 8,22,00000 compared to the PAT of 2020. Based on TTM (Trailing Twelve Months), the company had a profit of Rs 27 crore in March 2011, and this time the company has shown a PAT of Rs 22 crore on a TTM basis. The high level of Shiva Texyarn is Rs 290, and the all-time high has been Rs 650.
According to the analyst, Shiva Texyarn has come close to its all-time high PAT this time, which gives a high possibility of the company’s stock reaching close to its all-time high share price. Apart from this, he said that since the company is into making cotton textiles, cotton textiles are already performing great.
Jain said that the promoters had had a strong holding of 74 per cent in the company for a long time with great past experience and qualifications.
He gave a target of Rs 290 - Rs 300 and recommended buying at the current levels.
For more details, Watch the Full Video Here:-
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.