Penny Stock Share Price: Heavy selling was seen in the Indian stock market on the last day of the trading week. The same few penny stocks have encouraged their investors by giving them tremendous returns. The stock of textile sector company Filtex Fashion gave better returns than expected. This stock has given returns of up to 5 percent during trading. At the same time, it has given a return of more than 42 percent in the last 5 business days.
this is the company
The Hyderabad-based fashion company has imported its machinery from South Korea and Italy for research-development (R&D). This company is supplying its goods with the help of e-commerce platforms like Amazon, Flipkart, Snapdeal and Shop Cloo.
what are the reasons
Let us tell you that Eriska Investment Fund has bought stake in Philtex Fashion. This Mauritius-based company has acquired 7 lakh shares of Filtex Fashion for Rs 64.2 lakh. After this the stock has gained 5 percent and has reached a 52-week high of Rs 9.66. The share price stood at Rs 9.62 at the end of trading. An increase of 4.91 percent was seen compared to 1 day ago.
Great returns in 5 days
It is known that this stock has come up by 42 percent in just 5 trading days. On September 19, the share price was trading at a level of Rs.6. Now it is at Rs 9.62. At the same time, the stock has given more than 55 percent returns in 6 months.
read this also-
FDI Investment: Good news for the economy, India will get $100 billion foreign investment this year