Vedant Fashions Ltd. shares surged more than 5% on Wednesday, reaching an intraday high of ₹512.95 per share before settling at ₹507.40, representing a 4.12% gain by 11:40 am. According to reports from Essential Business Intelligence, the stock significantly outperformed the BSE Sensex, which was up only 0.31% at 78,672. The heightened trading activity was evident with 13.51 lakh shares worth ₹66.93 crore changing hands on the BSE and over 1.06 crore shares valued at ₹528.92 crore traded on the NSE, indicating strong investor interest in the counter. The stock has maintained strong momentum with nearly 26% gains over the past one month, reflecting sustained investor confidence in the company's performance trajectory.
The stock's surge follows the company's robust financial results for the June quarter of FY27, as reported by Essential Business Intelligence. Vedant Fashions reported a 14.7% year-on-year increase in net profit to ₹80.6 crore, while revenue rose 7.2% to ₹301 crore. The company's earnings before interest, tax, depreciation and amortisation (EBITDA) increased 8.6% YoY to ₹131 crore, with EBITDA margin expanding to 43.5% from 42.9% a year earlier. The heightened trading volumes and strong price performance come after the company delivered healthy quarterly earnings, demonstrating robust operational performance and investor confidence in the company's growth trajectory.
Separately, the company's board reappointed Chairman and Managing Director Ravi Modi and Whole-Time Director Shilpi Modi for fresh five-year terms with effect from August 28, as reported by Essential Business Intelligence. Vedant Fashions Ltd. is among India's leading ethnic wear retailers, best known for its flagship brand Manyavar. Headquartered in Kolkata, the company also owns brands such as Mohey, Twamev, Mebaz and Manthan, and sells wedding and celebration wear through an extensive network of stores across India and select international markets.
