Shares of La Opala RG are trending on September 12; know why

La Opala RG Ltd is involved in the business of manufacturing and marketing opal and crystal glass which are generally used as tableware.

On September 12, the market is trading in green. At 11:32 am, the S&P BSE Sensex is trading at  60213, up 0.7%. Regarding sectoral performance, IT is the top gainer, while Banks and FMCG are underperformers. Talking about stock-specific action, La Opala RG Ltd is among the top gainers today.

The shares of La Opala RG Ltd have increased by 3.27% on the day and are trading at Rs 351.7, as of 11:32 am. The stock opened at Rs 339.35 and so far, has made an intraday high and low of Rs 360.6 and Rs 339.35, respectively.

La Opala RG Ltd is involved in the business of manufacturing and marketing opal and crystal glass which are generally used as tableware. It is the largest manufacturer of opal ware in India. Oplaware is dinnerware made of opal glass that is heat, break, fracture, and chip resistant.

The company has 36,000 MTPA capacity in its two manufacturing plants located in Sitarganj and Madhupur. It has a pan-India network of 200 distributors and 20,000 retailers. The company has a presence in more than 30 countries.

For FY22, the company reported a net sale of Rs 323 crore, generating a net profit of Rs 87 crore. For Q1FY23, the revenue stood at Rs 82 crore, while the net profit remain at Rs 20 crore.

The ace investor, Ashish Kacholia has an investment in this stock. He holds 1579933 quantity of equity shares, owing a 1.4% stake in the company which is worth Rs 56 crore as of September 12.

The company belongs to S&P BSE group ‘A’ and has a market capitalization of Rs 3971 crore. The stock is trading at a TTM PE multiple of 38.34x.

About the shareholding pattern, 65.64% of the stake is owned by the promoters, 5.28% by FIIs, 15.03% by DIIs, and the rest 14.04% by the non-institutional investors.

The stock has a 52-week high and low of Rs 487 and Rs 240, respectively.