This Dolly Khanna apparel stock zooms about 15% in today’s trade; do you own it?

Buzzing stock: At 12:20 pm, the stock was trading 12.32 per cent higher at Rs 835 on the BSE.

Buzzing stocks May 30, 2023. Representative image. Source: Pexels

Buzzing stock: Shares of Monte Carlo Fashions, India's leading clothing brand, rallied as much as 13.9 per cent to Rs 847 apiece on the BSE on May 30, Tuesday, a day after the company released its March quarter numbers (Q4FY23). At 12:20 pm, the stock was trading 12.32 per cent higher at Rs 835 on the BSE. The stock climbed after snapping the two days losing streak where the stock lost over 3 per cent of its value. The scrip closed 9.36 per cent higher at 816.95 apiece.

Currently, the scrip is trading 7 per cent lower than its 52-week high of Rs 908 apiece which was made on September 15, 2022, the 52-week low of the stock was made a year ago on May 30, 2022.

Monte Carlo Fashions Q4 result

Monte Carlo Fashions on Monday, May 29 released its financial results for the March quarter of the last fiscal year. The company registered a consolidated profit after tax (PAT) of Rs 19.82 crore up 55.3 per cent in Q4 as compared to Rs 12.76 crore a year ago. It logged revenue from operations of Rs 236.72 crore as against Rs 162.46 crore a year ago, which translates to 45.7 per cent YoY growth.

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The Board of Directors of the parent company, Nahar Group has recommended a final dividend of 200 per cent, subject to the approval of shareholders in the ensuing Annual General Meeting.

Dolly Khanna Stock

Chennai-based renowned investor Dolly Khanna has 4,36,580 equity shares or 2.11 per cent stake in Monte Carlo Fashions, as per March 2023 shareholding pattern of the company available on the BSE.

Ace investor Khanna, who is known for lesser-known picks that tend to go on to overperform in the stock market, publicly holds 15 stocks with a net worth of over Rs 298.5 crore as of May 30, 2023, according to the stock analysis portal trendlyne.com.

Monte Carlo Fashions: Past performance

In the past one year the stock has surged over 66 per cent sharp rise against headline index's rise of 11 per cent. Year to date (YTD) Monte Carlo Fashions stock has gained over 18 per cent against Nifty50's rise of over 2 per cent and in the past six months the scrip has soared over 14 per cent against Nity50's decline of 0.78 per cent.

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