Nitin Spinners, will it enjoy the fruits of its CAPEX

Nitin Spinners underwent a big capex (for its size) in 2018 -20 after doing a QIP and prefential issue of equity shares at 110-120 a piece in November 2017... Its yet to be rerated fully and can give incremental gains going forward.. Buy with a SL of 185 for target of 400 and more..patience is the key in this one... Earnings have increased exponentially in line with its illustrious peers like VTL but PE remains at a discount

Comment:

Promoter Group has bought 45000 shares from open market on 20th december 2021 as per disclosure to exchanges

Comment:

Company has announced a large capex expansion for its size which would increase spindle capacity by 45 percent and garments capacity by 30 percent. .could be part of the governemnt incentive scheme..
Market cap as on date is Rs.1470 crores, size of Capex announced is Rs. 950 crores expected to take 20 months

Comment:

Gapping out of its trading range today... good sign if it closes without the gap being filled

Trade closed: stop reached