Stock that rallied over 200% in 12 days

Zenith Exports is locked in upper circuit for the twelfth straight trading day, rising 5% at Rs 120, also its 52-week high on the BSE.

The stock zoomed 208% from Rs 39 on April 9, 2018, as compared to 2.3% rise in the S&P BSE Sensex.

The BSE revised the circuit filter of scrip from 20% to 10% on April 13 and further to 5% on April 18.

“There are no events, information etc that have a bearing on the operations/performance of the company which include all price sensitive informations, which are required to be disclosed to the stock exchanges,” Zenith Exports said on April 13, on clarification with reference to increase in price.

Till 12:57 pm; a combined 3,078 equity shares changed hands and there were pending buy orders for 17,744 shares on the NSE and BSE, the exchange data shows.

Zenith Exports have total equity capital of Rs 53.96 million as of March 2018, of which 51.75% stake (2.79 million shares) with the promoters. Individual shareholders held 5.36% holding, while the remaining 42.9% stake are with the others including body corporate.

Zenith Exports had posted net profit of Rs 1.7 million for the nine month ended December 2017, against a net loss of Rs 8.1 million during the same period last year.

Zenith Exports manufactures and exports industrial leather hand-gloves and handloom silk fabrics as well as silk made-ups. Zenith Exports has arrangements with many silk weavers in and around Bhagalpur, Varanasi and Bangalore to manufacture silk fabric on a job-work basis.


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