This smallcap textile stock hits 20% upper circuit, snaps 3-day losing streak; check details

Shares of Ruby Mills Limited rallied 20% to hit the upper circuit limit at ₹248.96 apiece on the NSE on Tuesday, November 26, ending a three-day losing streak.

Ruby Mills’ shares declined more than 5% in three sessions from November 21 to November 25. The stock closed 5.71% lower at ₹207.47 apiece on the NSE on November 25.

The smallcap textile stock also saw a rise in volume on Tuesday as 2.4 shares changed hands on the BSE, with the trading value reaching ₹54.19 lakh. The company’s market cap surged to ₹832.99 crore with a 20% rally in the share price.

Ruby Mills informed the exchanges about its financial results for the quarter and six-month period ended September 30, 2024, on November 13. The company’s revenue from operations for the September quarter of FY25 declined by more than 3% to ₹51.27 crore compared to ₹53.14 crore in the September quarter of FY24. Ruby Mills’ profit-after-tax for the September quarter of the ongoing fiscal fell by more than 72% to ₹2.79 crore against ₹9.98 crore in the corresponding quarter of the preceding fiscal.

The company’s profit-after-tax for the six-month period ended September 30, 2024, decreased by more than 33% to ₹11.6 crore compared to ₹17.32 crore in the corresponding period of the previous financial year. The company’s revenue from operations for H1FY25 fell more than 8% to ₹98.24 crore compared to ₹106.97 crore in the year-ago period.

Shares of Ruby Mills have rallied more than 12% in the last one year. The textile stock has given Year-To-Date (YTD) returns of more than 5% and in the last six months, the stock has climbed more than 23%. In the past month, shares of Ruby Mills have gained over 2% while rising over 14% in the last five sessions.