Dollar Industries soars on eyeing southern expansion with 50 new outlets
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Dollar Industries is currently trading at Rs. 576.15, up by 7.55 points or 1.33% from its previous closing of Rs. 568.60 on the BSE.
The scrip opened at Rs. 580.00 and has touched a high and low of Rs. 588.00 and Rs. 572.95 respectively. So far 13483 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 660.10 on 22-May-2024 and a 52 week low of Rs. 358.05 on 14-Jul-2023.
Last one week high and low of the scrip stood at Rs. 594.30 and Rs. 551.50 respectively. The current market cap of the company is Rs. 3257.21 crore.
The promoters holding in the company stood at 72.21%, while Institutions and Non-Institutions held 2.63% and 25.16% respectively.
Dollar Industries is eyeing a major expansion in South India, with plans to open 50 new stores across the region over the next three years. The company, which has a 15-per cent stake in the branded hosiery segment, is aiming at an 11-12 percent growth on a year-on-year basis.
Under its 'Vision South India' initiative, Dollar Industries anticipates a 50-per cent surge in sales from markets in that region compared to the current year. The expansion will also help in reaching its revenue milestone of Rs 2,000 crore by 2025-26.
Dollar Industries has become one of the leading brands in the hosiery sector with an enviable market share and a significant percentage in textile exports of the total production in the Indian hosiery market.
