Rattanindia Enterprises soars to an all-time high today with a remarkable 17% surge; know why

Rattanindia Enterprises Limited which encompasses a wide range of businesses hit an all-time high today at Rs 77.65 and surged by 17.11%. Rattanindia Enterprises serves as the flagship company of the Rattanindia Group for its new-age growth businesses. The company is dedicated to businesses with cutting-edge technologies. Rattanindia Enterprises comprises tech-focused new-age businesses, including e-commerce, electric vehicles, fintech, and drones. It owns brands such as Cocoblu, Revolt, Neobrands, Neosky, and Wefin.

Today’s surge in the stock price can be attributed to the launch of a new casual fashion line by Neobrands, a fully-owned subsidiary of Rattanindia. This line, named FYLTR, has unveiled its latest lightweight winter collection, now accessible through its dedicated store on Amazon.

Furthermore, the company revealed plans to soon introduce heavyweight winter wear through FYLTR’s official brand store on Amazon. This expansion suggests a strategic move by Neobrands to cater to diverse preferences while maintaining a focus on style and comfort. The innovative approach and commitment to pushing fashion boundaries align with the subsidiary’s vision, potentially driving further growth and interest in the company’s offerings.

Yesterday, the stock closed at Rs 64.71. Today, it opened at Rs 65.18 and closed at Rs 75.78, up by a 17.11% increase. Today shares of the company hit an all-time high at Rs 77.65 while its 52-week low stands at Rs 32.05. On BSE today shares of the company have seen a spurt in volume by more than 5.19 times. The company currently boasts a market capitalization of approximately Rs 10,500 crore. Over the past six months shares of the company have given staggering returns of 99.53%, in the same time frame BSE Services have changed by 18.87%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.