Shares of one of India’s largest denim manufacturers, Nandan Denim, are in action as the company has informed exchanges that its board has approved a share transfer cum shareholders’ agreement to acquire a stake in a special purpose vehicle (SPV) focused on hybrid wind and solar power. Post this update, the stock started the trading session in the green at Rs 2.72 against the previous close of Rs 2.69 on the BSE. The counter jumped further amid a spurt in trading volume and touched the intraday high of Rs 3.08, representing a gain of 14.49 per cent from the previous close. Last seen, the stock held firmly in green, even as benchmark indices Sensex and Nifty turned volatile amid a rise in oil prices, and was trading at Rs 2.92 with a gain of 8.55 per cent. The market cap of the company stood at Rs 420.91 crore.
On the National Stock Exchange (NSE), the stock began the trading session at Rs 2.73, up from the previous close of Rs 2.69, and later touched an intraday high of Rs 3.05.
Details of strategic acquisition
According to the information shared with the exchanges, the company will acquire a 6.1 per cent equity stake in Opera Vayu (Narmada) Private Limited, an SPV dedicated to setting up a Wind-Solar Hybrid Power Plant in Gujarat. For this, the company will invest Rs 4,00,20,960 to acquire 40,02,096 equity shares at a face value of Rs 10 each. The acquisition is expected to be completed by June 30, 2026.
Quarterly result
Earlier, the company reported revenue of Rs 499.53 crore and a net profit of Rs 2.97 crore in Q3FY26. This is lower than the revenue of Rs 784.69 crore and a net profit of Rs 6.58 crore in the same quarter last year (Q3FY25).
The company’s total revenue for the first nine months of fiscal 2026 was Rs 2,331.89 crore, compared to Rs 2,498.03 crore in the previous year. However, net profit increased by 3.4 per cent to Rs 23.62 crore during this period.
These figures follow FY25 annual results, which showed net sales of Rs 3,546.68 crore, a 76 per cent increase over FY24. Full-year net profit was Rs 33.48 crore.
ALSO READ | Citius TransNet InvIT IPO now open for subscription, check price band, listing dates and other details
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
