Pashupati Cotspin shares hit 10 per cent lower circuit
The stock hit the lower circuit on Wednesday ahead of the company's scheduled Q2 FY27 results meeting on Friday.
Pashupati Cotspin shares hit the 10 per cent lower circuit at ₹133.90 on Wednesday, 4 November, according to a report by Mint. The stock reached an intraday high of ₹155.40 during the session before hitting the lower circuit, and trading volume was more than 1.89 times higher.
The volatility comes before the company's board of directors meets on Friday, 6 November. The board will consider and approve unaudited financial results for the quarter and half year ended 30 September 2026, and may also consider declaring an interim dividend for FY27.
The company's board has previously recommended a 3:2 bonus issue, where shareholders receive three bonus shares for every two held. This is subject to approval through a postal ballot, with an expected completion date of 2 December 2026.
Pashupati Cotspin is an integrated textile manufacturing company based in Kadi, Mehsana district, Gujarat. The stock has seen a 69.45 per cent surge over one month and is up 65.55 per cent on a year-to-date basis.
The company's consolidated net profit rose 265.66 per cent year-on-year in the June 2026 quarter. On 21 October, the exchange sought clarification from the company regarding significant movement in its share price, to which the company responded.