2024-03-04 20:57:14
New Delhi: Shares of Relaxo Footwear, a company that manufactures slippers and other footwear products, have seen a huge jump in the last decade. Its shares have increased by 1,200 percent in the last 10 years. That means, if an investor had invested Rs 10,000 in this share ten years ago, its value would have been Rs 1.2 lakh. However, there has not been any significant growth in it recently and it has given only 13% returns in the last six months. It has grown only nine percent in the last three months. Relaxo was started in 1984. It is the largest footwear manufacturing company in the country and is included among the top valuable 500 companies of the country. The company manufactures slippers, sandals, sports and casual shoes. Its popular brands include Relaxo, Sparks, Flight and Bahamas. These brands are leaders in their space. Relaxo is an iconic brand of rubber slippers. Similarly, Flight is a fashionable and semi-formal slippers brand.
Multibagger Stock: Rs 10 thousand turned into three lakh in 10 years, have you heard the name of this company?
How far can the price go?
According to the shareholding pattern of the company, the promoters hold 71.27% stake in it. Public shareholders hold 28.73 percent stake in this. Talking about public shareholders, mutual funds hold 8.81 percent and foreign investors hold 3.2 percent. In the December quarter, the company’s revenue increased by five percent to Rs 713 crore, while profit increased by 28 percent to Rs 39 crore. On Saturday, the company’s shares closed at Rs 833.00 with a gain of 0.51%. Experts have advised to hold it with a stop loss of Rs 800. In the coming days its price may go up to Rs 860 to Rs 880.