House of Pearl Fashions (HOPF) is a ready-to-wear apparel company operating in three distinct business streams: manufacturing, marketing and distribution, and sourcing of garments. Basically, the company is good but right now, the investor perception for the entire textile sector, be it ready made or any apparel company, there are no willing buyers. This can be seen from the listless way in which the stock has been moving in the narrow range of Rs.35-45 since past few days.
This had begun to show in the bottomline of the company and it has got further accentuated during the third quarter performance, For the period ended 31st Dec 2008, the company's net sales were at Rs 11 crore versus Rs 4.34 crore in Q3FY08. Its net profit was at Rs 84 lakh versus Rs 6.5 crore. The company, in its Notes to Accounts has stated that profitability for the quarter was adversely impacted due to due to new ventures which are at the gestation period. The company has not provided for MTM forex losses which it will do so at the end of the year. Over and above all this, the global slowdown.
The stock touched a new low at 36 on 5th March 2009 but it recovered a bit on news that its subsidiary in Bangladesh is in the process of restructuring its business.
No major news are expected in this stock. Best to avoid this out-of-fashion stock. thanks
Appost GDS Online Post Office Recruitment 2019
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Gramin Dak Sevak (GDS) recruitment open positions and application details
had been published by Indian post office recruitment body for year 2019 for
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6 years ago
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