Vishal Fabrics, a leading denim fabric manufacturer, has recently made headlines with its share allotment. The company has approved the allotment of 2.25 crore equity shares, a move that has put its shares in the spotlight.
The board has approved the allotment of 2.25 crore equity shares of face value Rs 5 each, at an issue price of Rs 30.60 per share. This allotment, which includes a premium of Rs 25.60, is a significant move for the company as it represents a substantial increase in its equity base. The shares have been allotted on a preferential basis upon receipt of the amount of Rs 51.63 crore. The new equity shares will rank pari-passu with the existing equity shares of the company.
Meanwhile, shares of the denim fabric manufacturer started today’s trading session in the green despite a broadly weak trend in the Indian stock market. The counter opened at Rs 35.99 on the BSE against the previous close of Rs 35.58. It jumped further to touch the high of Rs 36.50, representing a gain of 2.58 per cent from the closing price of the last trading session.
However, it later dipped amid selling pressure and last seen it was trading at Rs 35.10 with a fall of 1.35 per cent.
The counter has been losing for the last three days and has fallen 4.39 per cent in the period. Technically, the stock trades higher than the 100-day and 200-day moving averages but lower than the 5-day, 20-day and 50-day moving averages.
Despite global challenges and industry headwinds, Vishal Fabrics demonstrated its resilience with a 13% rise in profit to Rs 28.84 crore in the financial year ended on March 31, 2025. This is a testament to the company’s stability and ability to navigate turbulent market conditions.
13 crore in the year-ago period.
Vishal Fabrics’ financial performance in 2024-25 is a cause for optimism. The Chiripal Group company’s total income rose by 5% to Rs 1,521.43 crore from Rs 1,451.29 crore in FY24, indicating a positive trajectory for the company’s future.