Shares of this recently listed company have skyrocketed 176% in the last one month

Shares of this recently listed company have skyrocketed 176% in the last one month

by 5paisa Research Team Last Updated: Sep 07, 2023 - 05:09 pm 12.8k Views
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Today, the stock opened at 5% upper circuit and was locked there for the remaining session.

Shares of Ahmedabad-based textile company have delivered an exponential return to its investors since its listing in August 2022, as the scrip has surged a whopping 620 % from Rs 15 to Rs 108 a piece

Incorporated in 1985, Alstone Textiles (India) Ltd, formerly known as Shalini Holdings is engaged in the business of trading in fabric and investment.

 Shares of this multibagger realty stock opened to an all-time high in today’s session at Rs 264. The stock is currently locked in the upper circuit limit of 5% over its previous close of Rs 103. Shares of Alstone Textile are highly volatile, hitting the upper price band of 5% on several consecutive sessions.

The stock has also outperformed the Frontline index S&P BSE Sensex which has given negative returns of 0.28% in the last one month, as compared to Alstone Textile which has zoomed by 176%. Shares of this textile company have risen 588% in less than 2 months.

Shares of this BSE ‘XT’ Group stock command a market capitalisation of Rs 138 and are currently trading at a P/E multiple of 15. Group ‘XT’ XT consists of all those stocks which are only listed on BSE and are settled on a trade-to-trade basis, owing to their high volatility. The constituent stocks can only be traded on a delivery basis [after T+2 settlement] i.e intraday and BTST trades can't be done in these scrips.

It will be interesting to watch if the stock continues to rally and touch new highs.

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