52-week high alert: Century Textiles rallies over 12%

During Thursday’s deals, the shares of Century Textiles and Industries Limited zoomed by 12.20%. Additionally, the stock hit a fresh 52-week high mark of Rs 1,425.10. Furthermore, the scrip witnessed a massive spurt in volume by more than 9.83 times. The company’s current market capitalisation is Rs 15,611.15crore.

About the company:

Over the years, Century Textiles and Industries Ltd has evolved significantly from its origins as a single-unit textile entity in 1987. Today, it stands as a formidable commercial powerhouse with a diversified portfolio spanning various industries. The company has emerged as a trendsetter in the realm of cotton textiles and has extended its influence into sectors such as Pulp and Paper and Real Estate, showcasing its prowess and versatility.

The product-wise breakdown of Century Textiles and Industries Ltd’s revenue reveals a substantial contribution from the Pulp & Paper segment, constituting 75.68% of the total revenue. Cotton Fabric follows, representing 20.15% of the revenue, while Rental Income contributes 3.97%. Other segments, including Tyre Yarn and Fabric, Rayon Yarn, Cotton Yarn, Paper and Board, Wind Power, Optic Fibre Cables, and Others, collectively make up the remaining 0.2%.

In terms of segments, Paper & Pulp holds the largest share at 73.47%, reflecting the company’s significant presence in this sector. Textiles follow closely with a share of 22.79%, showcasing the diversified nature of the business. Real Estate constitutes 3.73% of the segments, while Others contribute a minimal share of 0.01%. This segmentation provides a comprehensive overview of the company’s revenue streams, highlighting its strengths in key sectors.

Shareholding pattern

Contrary to previous trends, FIIs have decreased their stake in the company from 8.07% in June 2023 to 6.64% in September 2023. This shift in ownership suggests a realignment in the investment portfolio of FIIs during this period. The specific factors influencing this reduction in stake may vary and could be attributed to market dynamics, company performance, or changes in the investment strategy of these institutional investors.

Furthermore, the stock has witnessed significant buying activity as it has given returns of more than 95% in the last one year.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.