Page Industries share price: With Page Industries share price surging to a record 52-week high of Rs 32,750 on Thursday on the back of stellar Q1 results, its market capitalisation (m-cap) now exceeds the combined m-cap of four of its peer companies. On Friday noon, the m-cap of Page Industries, which is also known as Jockey India, stood at over Rs 35,314.67 crore — almost Rs 5,000 crore more than the combined m-cap of its peer companies Raymond (m-cap: Rs 10,215.37 cr), Arvind Ltd. (Rs 4,898.19 cr), Aditya Birla Fashion and Retail Ltd (Rs 13,836.99 cr), and Indian Terrain (Rs 513.73 cr).
Page Industries share price has skyrocketed 96.36% from a year ago period when the share price closed at Rs 16,678.60 on the BSE on 9 August 2017. On Thursday, Page Industries shares surged by 8.25% to a record high of Rs 32,750 on the BSE. Interestingly, Page Industries had come up with its initial public offering (IPO) back in 2007 at an issue price of Rs 360 (lower end of price band) and got listed on the stock exchanges at a discount price of Rs 260. After 11 years till Thursday, the stock has given almost 8,200% returns.
Page Industries share price climbed on Thursday after it reported strong numbers for the quarter ended June 2018. In Q1 FY19, the company’s net profit jumped 45.89% at Rs 124.43 crore against Rs 85.29 crore in corresponding quarter of last fiscal. Total income of the company was up 17.34% at Rs 822.44 crore as compared with a year ago period. Page Industries is the licensing partner of innerwear brand Jockey India.
What brokerages say
Page Industries comes under Group A list of companies on the BSE. Credit Suisse has maintained ‘Underperform’ on Page Industries and raised the price target to Rs 26,000 from Rs 21,300. According to Credit Suisse, June quarter’s net profit was significantly ahead of estimates. Quality of results was not strong, with volume and revenue growth being weaker than expected, the firm said.
ICICI Securities has maintained a “reduce” with a price target of Rs 27,900. Brokerage firms Motilal Oswal, B&K Securities and Dolat Investments have given a “buy” call with price targets ranging between Rs 31,600-Rs 35,000.