While the buyers and sellers were not known immediately, it was earlier reported that Clear Wealth Consultancy Services was planning to sell its stake in the company
While the buyers and sellers were not known immediately, it was earlier reported that Clear Wealth Consultancy Services was planning to sell its stake in the company.
At 10.19 am the stock was trading 2.8% lower at Rs 396.7 over its last day’s closing price of Rs 407 per share. On a year-to-date basis, the stock has surged over 7%, while it has risen over 11% in the last six months.
Meanwhile, shares of Gokaldas exports have yielded a multibagger return to its investors. The stock has delivered a 702% return in the last three years.
In the third quarter of FY23, the garments exporter Gokaldas Exports reported a consolidated profit after tax (PAT) of Rs 40.6 crore. This was a 34.8% jump over Rs 30.1 crore of PAT recorded for the corresponding quarter of the last fiscal year.
Meanwhile, it also recorded a consolidated total income of Rs 528.1 crore for the quarter that ended in December, which was 0.8% more than the total income of Rs 524.1 crore recorded in the same quarter of the last financial year. Its EBITDA rose 15.4% to Rs 72.4 crore in Q3FY23 from Rs 62.8 crore recorded in the same period last year.
As per Trendlyne data, the highest target price for the stock goes up to Rs 605, while the average target price estimate is Rs 555, which shows an upside of 40% from the current market prices.
The consensus recommendation from seven analysts for the stock is a Buy. Out of the seven analysts covering the stock, six have strong buy ratings, while only one has a hold rating.
Gokaldas Exports is one of India’s leading apparel exporters with an annual capacity of over 36 million pieces. Gokaldas focuses on manufacturing complex garmenting products that insulate it from other price-based competition. The company has an impressive clientele of leading international brands with GAP and H&M being the major contributor to revenues.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
- Front Page
- Pure Politics
- Companies & Economy
- Short-term Yields Up, Re Down After Powell Rate Signal
Bond yields at the shorter end of the curve exceeded those of long-tenor sovereign debt in India while the rupee retreated Wednesday, reflecting the likelihood of outflows from local assets after the US Federal Reserve indicated rates would continue to harden.India to Top China as Walmart’s Largest Int’l Market in ’23: CFO
India is likely to surpass China and emerge as the largest international market for Walmart this year, a top company executive said.Sebi Mulls PCVs to Offer Long Funding
Amid allegations of fierce valuation games that drive startups to dress up numbers and venture capitalists to spin stories to investors, the idea of permanent capital vehicles (PCVs) to offer long, patient funding to unlisted outfits of Indian entrepreneurs is being explored.