Penny Stock Under Rs 10: THIS Textile Stock In Focus Due to Business Update

Penny Stock Under Rs 10: Shares of Axita Cotton Limited will remain in focus next week as the company submitted an Expression of Interest for participation in the Corporate Insolvency Resolution Process (CIRP) of Varidhi Cotspin Private Limited.

Axita Cotton Limited’s share price closed at 4.92% at Rs 7.68 per share on BSE, with a market capitalisation of Rs 293.89 crore on Friday. The stock touched an intraday high of Rs 7.90 per share and an intraday low of Rs 7.30.

Axita Cotton Business Update

Axita Cotton Limited has submitted an expression of interest for participation in the CIRP of Varidhi Cotspin Private Limited. Varidhi Cotspin Private Limited is a manufacturer of cotton yarn located in Dholka, Ahmedabad, Gujarat and has its Manufacturing Unit established in 2017.

“Varidhi has a spinning facility housing 29,184 spindles, featuring a spinning unit capacity of roughly 4,442 metric tonnes per annum (MTPA). Its produce Ring Spun 100% Cotton, Compact, Combed, Carded Yarn for the hosiery and weaving industries.”

The company has established itself as a quality-focused cotton manufacturer and exporter, with a strong emphasis on quality, timely delivery, customer satisfaction, innovation and sustainability.

Axita Cotton Share Price Trend

The company’s scrip ended higher on Friday, August 21. The stock touched its 52-week high of Rs 12.20 per share on December 31, 2025. The stock dipped to its 52-week low of Rs 6.18 per share on August 20, 2026. It has a return on equity (ROE) of 5.65%. The stock has surged 3.50% in one month, 5%. The stock has declined around 53.51% in two years. The scrip value has surged 269.23% in five years

Axita Cotton Q1 Result

The company reported Rs 3.59 crore in the June quarter of the financial year 2026-27, against a net loss of Rs 2.34 crore in the March quarter. The firm reported a revenue of Rs 58.28 crore in Q1FY27 against Rs 61.03 in the March quarter of previous financial year. Its earnings per share stood at Rs 0.09 and at Rs -0.06 per share.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as “we”). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.