Shares of Gokaldas Exports hit a 52-week high of Rs 884 on 13 October after Catamaran Ventures LLP purchased a 1.12% stake in the company.

Venture capital firm Catamaran Ventures LLP, which is led by Infosys co-founder NR Narayan Murthy, has purchased a 1.12% stake in the apparel manufacturing company Gokaldas Exports. The firm owns 6.7 lakh shares that are worth Rs 57 crore as per the 12 October closing price.

On 12 October, around 5 lakh shares of the company changed hands on both the bourses against 4 lakh shares on a monthly average basis.

Gokaldas Exports is one of the largest manufacturers and exporters of apparel in India and has an annual turnover of $200 million. The company’s subsidiary, “The Warehouse’ sells garments in the Indian retail market through its offline channels.

The company has more than 22 manufacturing facilities and has international clients such as ZARA, H&M, GAP, Puma, and Adidas.

In its quarterly report for the April-June quarter, the company’s net profit saw a 17.4% YoY decline to Rs 32.5 crore from the Rs 39.4 crore posted in the year-ago quarter. The company saw a 15.7% YoY decline in its revenue from operations at Rs 514 crore for Q1FY24 due to a drop in exports to the US and European nations.

At 1:45 pm, Gokaldas Exports shares were trading at Rs 868.75 or 2.25% above its previous close on NSE.