Small-cap stock Iris Clothings has reached a lifetime high after experiencing a massive surge of 250% over the past two years, making it one of the most lucrative investments in the Indian stock market recently. This multibagger stock has shown great potential and continues to gather momentum.
The day started off on a positive note for Iris Clothings as it opened with an upside gap and quickly soared to an intraday high of ₹448 per share on the NSE, marking a new all-time high. However, profit booking soon ensued, causing the stock to retrace from its 52-week highs. Currently, Iris Clothing shares are trading around ₹441 per share.
Since its listing on the NSE, Iris Clothings has been a profitable venture for its investors. The small-cap company initially offered its public issue in October 2018 at a fixed price of ₹90 per share, and it debuted at ₹92, only a ₹2 per share premium. For a while, the stock showed modest movement until 2021 when it embarked on a strong upward trajectory, delivering exceptional returns of over 250% in the past two years.
Over the past year, Iris Clothings has proven to be a multibagger for positional investors, with the stock surging from around ₹200 to ₹441 per share, resulting in a remarkable 120% return.
Iris Clothings is a well-established readymade garment company specializing in designing, manufacturing, branding, and selling children’s wear. Recently, the company successfully launched and distributed winter wear apparels featuring beloved Disney characters such as Mickey and friends across India. These premium category apparels fall under the company’s own brand DOREME and will soon be available on their direct-to-consumer website, www.doreme.in. In the upcoming quarters, Iris Clothings plans to introduce more product categories featuring various Disney characters.
Santosh Ladha, the Managing Director of Iris Clothings, expressed optimism about the future products designed with Disney characters, stating, The order pipeline is strong, and we are making significant headway so far in rolling out apparels designed with Disney characters.
Overall, Iris Clothings’ remarkable performance in the stock market and its collaboration with Disney characters have garnered much attention. With its continuous growth and promising prospects, this small-cap stock seems poised for further success in the future. Investors and stakeholders eagerly anticipate the company’s upcoming endeavors in expanding its product range and capitalizing on its popular Disney collaborations.
