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Pashupati Cotspin shares hit the 10% lower circuit at ₹133.90 on Wednesday, 4 November, after touching a fresh 52-week high of ₹155.40 during the session. The stock also witnessed a sharp jump in trading volume, more than 1.89 times higher.
The sharp volatility comes ahead of the company's Q2 FY27 results. Pashupati Cotspin's board of directors is scheduled to meet on Friday, 6 November, to consider and approve the unaudited financial results for the quarter and half year ended 30 September 2026.
The board will also consider declaring an interim dividend, if any, on the company's equity shares for FY27.
Pashupati Cotspin’s board has recommended a 3:2 bonus issue, under which shareholders will receive three bonus shares for every two shares held, subject to approval through a postal ballot. The company is expected to complete the bonus issue by 2 December 2026, according to an October report.
Meanwhile, the exchange sought clarification from Pashupati Cotspin on 21 October following significant movement in its share price. The company subsequently submitted its response. The stock's recent rally also follows a sharp improvement in its financial performance, with consolidated net profit rising 265.66% year-on-year in the June 2026 quarter.
Pashupati Cotspin shares have delivered strong returns across multiple time frames, rising 10.08% in one week and 42.10% over two weeks. The stock has surged 69.45% over one month, gained 57.81% over three months, and 51.75% over six months. On a year-to-date basis, the stock is up 65.55%, highlighting its sharp rally in 2026.
Pashupati Cotspin is an integrated textile manufacturing company and the flagship entity of the Pashupati Group. Based in Kadi, Mehsana district, Gujarat, the company manufactures a range of products, including cotton bales, single and double cotton yarn, Eli twist, Lycra yarn, cotton seed, wash oil and cotton cake. Its operations are supported by certifications such as BCI, Organic, GRS, IKEA, OCS and PSCP.
Pashupati Cotspin share price today opened at ₹152.50 apiece on the BSE, the stock touched an intraday high of ₹155.40 per share, and an intraday low of ₹133.90 per share.
According to a technical expert, Pashupati Cotspin is an illiquid counter that has rallied sharply from its October swing low of ₹68 to above ₹150. The stock has fallen more than 10% today and may remain under pressure in the near term. The next key support is at ₹120, while the ₹150 level is expected to act as a stiff resistance.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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