Stocks

century textile share price: Century Textile & Industries rises 5% after September quarter results

Shares of rallied 4.74% to Rs 852.65 in Thursday’s intraday trade after the company reported a 59.38% year-on-year (Yoy) rise in consolidated net profit at Rs 69.97 crore for September quarter 2022-23. In the year-ago period, the profit stood at Rs 43.9 crore.

The total income of the company from operations rose to Rs 1,242.11 crore from Rs 1,034.27 crore in the corresponding period of the previous year. The total expenses also surged to Rs 1,125.25 crore against Rs 972.08 crore.

At 10.23 am, the scrip was trading 4.09% higher at Rs 847.40 on BSE over its last day’s closing price of Rs 814.1 apiece. However, the stock has fallen about 8% year-to-date, while it has risen nearly 6% in the past one year.

As per Trendlyne data, the highest target for the stock goes up to Rs 1130, showing an upside potential of around 38.8% from the current prices.
The consensus recommendation from one analyst for & Industries is a strong buy.


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