Filatex India shares turn ex-split; stock zooms 12%

December 29, 2022

Category: General

Country: India

Region: Asia

Filatex India stock touched an intraday high of Rs 50, rising 12.11% against the previous close of Rs 44.60 on BSE

Aseem Thapliyal
Updated Dec 27, 2022, 10:49 AM IST

Filatex India stock touched an intraday high of Rs 50, rising 12.11% against the previous close of Rs 44.60 on BSE

Shares of Filatex India zoomed over 12% in early trade after the stock turned ex-split today. Filatex India stock touched an intraday high of Rs 50, rising 12.11% against the previous close of Rs 44.60 on BSE. Total 0.60 lakh shares changed hands amounting to a turnover of Rs 28.77 lakh. In the last two sessions, the stock has surged 17% on BSE on the news of stock split.

Market cap of the firm rose to Rs 2,148.60 crore. The stock hit a 52-week high of Rs 71.15 on January 17, 2022 and a 52-week low of Rs 40.25 on December 26, 2022.

Earlier, the Filatex India stock opened with a gain of 3.92% at Rs 46.35 today.

Filatex India stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

The stock has delivered flat returns in a year and in 2022.

The stock turned ex-split in the ratio of 1:2 today. The stock’s face value shall change from Rs 2 currently to the new face value of Re 1 per share.

In the second quarter of the current fiscal, Filatex India reported a 65.90 per cent fall in its consolidated net profit to Rs 25.16 crore, against Rs 73.78 crore net profit for the quarter ended September 30, 2021.

However, sales of the company rose 20.57% to Rs 1163.42 crore in Q2 from Rs 964.95 crore a year ago.

Filatex India Limited is among leading manufacturers of Polyester Filament Yarn in India. The company manufactures polyester and polypropylene multifilament yarn, and polyester chips. The company’s segments include manufacture and trading of synthetic yarn and textiles. It also manufactures various types of synthetic yarns, which include polyester partially oriented yarns (POY), polyester filament yarns, fully drawn yarns (FDY), drawn textured yarn (DTY), air textured yarn (ATY), polypropylene yarn (PPY) and narrow woven fabrics (NWF).

Courtesy: https://www.businesstoday.in/markets/company-stock/story/filatex-india-shares-turn-ex-split-stock-zooms-12-357867-2022-12-27