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Acknit Industries: An ideal stock for investors' and traders' short-term portfolio -
Acknit Industries: An ideal stock for investors' and traders' short-term portfolio
Stock Informer | Published: 21 Apr, 2017  | Source :


Acknit Industries Limited formerly Known as Acknit Knitting Limited, incorporated in the year 1990, is an ISO 9001 - 2008 Public Limited Company, In a span of twenty of twenty three years of operations it is now one of the largest manufacturers and exporters of industrial gloves and garments. Acknit is having three different manufacturing divisions near Kolkata, India via.

1. Seamless Gloves Division - Situated in Special Economic Zone (SEZ) manufacturing Seamless Gloves made of 100% Cotton, Poly / Cotton, Nylon, Kevlar, HPPE and other special cut resistant blended yarns etc., for cut lever 1 to 5., ACKNIT is having 3 coating facilities which produces PU Coating, Nitrile Coating & Layex Coated Gloves.

2. Industrial Leather Products Division - Acknit owns a full integrated setup backed up with its own tanning facilities for manufacturing Leather Gloves and special type of Leather Gloves of Kevlar / HPPE / Glass Yarns with leather stitch on the palm and at the back of the finger tips. of the fastest growing and leading exporters from India in a short span of time.

3. Industrial Garments Division - Manufacturing various types of Industrial Garments made of Cotton, Poly / Cotton, high visibility fabric with 3m reflective tape, heat resistant, Nomex and T-Shirt of all types. All the units are of international standards with sophisticated machinery and state of the art facilities having adequate production capacity to meet the growing market demands. The products are manufactured as per CE norms and well approved by the overseas customers. Over 90% productions are exported to European countries regularly and it is a recognized export house by the government of India.


Acknit Industries Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of ₹ 27.37 Cr.) operating in Textiles sector.Acknit Industries Ltd. key Products/Revenue Segments include Hand Gloves which contributed ₹ 113.63 Cr to Sales Value (70.15 % of Total Sales), Readymade Garments which contributed ₹ 30.15 Cr to Sales Value (18.61 % of Total Sales), Export Incentives which contributed ₹ 11.55 Cr to Sales Value (7.12 % of Total Sales), Others which contributed ₹ 4.56 Cr to Sales Value (2.81 % of Total Sales), Wind Power which contributed ₹ .86 Cr to Sales Value (0.53 % of Total Sales), Yarn Fabric which contributed ₹ .78 Cr to Sales Value (0.48 % of Total Sales), Other Operating Revenue which contributed ₹ .42 Cr to Sales Value (0.26 % of Total Sales), Scrap which contributed ₹ .02 Cr to Sales Value (0.01 % of Total Sales)for the year ending 31-Mar-2016.For the quarter ended 31-12-2016, the company has reported a Standalone sales of ₹ 35.91 Cr., down -3.32 from last quarter Sales of ₹ 37.15 Cr. and down -7.02 from last year same quarter Sales of ₹ 38.62 Cr. Company has reported net profit after tax of ₹ 1.08 Cr. in latest quarter.


By saying that Moving Average arriving good for stock in our books then it is dependent on  the indicator of 200-day moving average is a deceptively simple indicator. All it does is compile and average the 200 most recent closes. But because it quiets the day-to-day noise and "smoothes out" recent chart history, some find it to be a very useful device. Frequently, technical analysts will compare a chart's current level to its 200-day moving average, and use that to gauge underlying "strength'".



Believe it or not on this technical indicators what are projected Script has much potential what is it performing now, it will maintain this volatility in the upward direction of frame where it will perform more for another 20-30%, Investors and traders both can view this stock in their short term portfolios. Giving targets of levels of 150 - 155 - 160 from the current market price keeping a strict SL of  121.50.


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