Sumeet Industries is gaining momentum

Sumeet Industries is one of the emerging scrips in the textile industry and it has come a long way. The shares of the company in the last three months have given a return of 102 per cent. Three months ago, the shares of the company were at Rs 12.22. In the last one year, the shares of the company have surged by 114 per cent, making it a hot stock in group index B. In the recent past, the scrip of the company has seen a lot of movement. On September 22, company's scrip had a delivering volume of Rs 65 lakhs.

On July 25, 2016, the company posted its Q1FY17 numbers that are definitely impressive. Net profits of the company in Q1 stood at Rs 8.31 crores. This figure has increased by 74 per cent as compared to Q1FY16. Revenue of the company in Q1FY17 stood at Rs 369.14 crores, which has increased by 35 per cent as compared to corresponding quarter of the previous fiscal.

On September 23, shares of the company as on 10.54 am are trading at Rs 24.60, up by 0.82 per cent. Fifty-two week high/low of the company stands at Rs 25.85/9.90. Sumeet Industries has recently announced that the date for its 28th Annual General Meeting will be September 30.