Nandan Denim's penny stock surged 9% to ₹3.08 on September 7, jumping as much as 8.8% to its day's high on BSE despite broader market weakness. According to reports from LiveMint, the stock's strong performance came as the 30-share BSE Sensex fell 172.77 points to 76,342.66 and the 50-share NSE Nifty declined 63.30 points to 23,832.60 in early trading. The market weakness was influenced by rising crude oil prices and US-Iran tensions, with Brent crude trading 0.78% higher at USD 97 per barrel.
As reported by LiveMint, the penny stock has demonstrated strong short-term performance with jumps of 6% in 1 week, 29% in 1 month, 15% in 3 months and 22% in 6 months. However, the stock remains down 13% over the past year, having hit its 52-week high of ₹3.74 in September last year and its 52-week low of ₹1.80 in March 2026. The current price of ₹3.08 represents a significant recovery from its recent lows despite the overall negative annual performance.
According to LiveMint, Nandan Denim reported mixed performance for Q1 with net profit rising 31.8% year-on-year to ₹14.80 lakh despite a sharp decline in revenue. The company's revenue from operations fell 40.6% to ₹622.39 lakh compared with ₹1,047.68 lakh in the corresponding quarter last year. Total expenses dropped 40.6% year-on-year to ₹614.50 lakh, against ₹1,034.40 lakh in Q1 FY26. The improvement in profitability came largely due to the substantial reduction in expenses, with basic earnings per share improving from ₹0.08 to ₹0.10 during the period.
As reported by LiveMint, Nandan Denim is pursuing initiatives in renewable energy to improve its energy costs and sources. The company acquired a 6.1% stake in Opera Vayu (Narmada) Private Limited for ₹4 crore through the purchase of 40,02,096 equity shares on July 13, 2026. Opera Vayu (Narmada) Private Limited is involved in the procurement of wind and solar power through the captive renewable energy route, aligning with the company's efforts to develop sustainable and potentially cost-efficient energy sources over the long term.
