Gokaldas Exports Faces Continued Stock Decline Amid Strong Sales Growth and High Pledged Shares

Gokaldas Exports, a small-cap player in the Garments & Apparels industry, has experienced significant activity today, reaching a new 52-week low of Rs 674. This decline marks a continued trend, as the stock has underperformed its sector by 1.13% and has seen a consecutive fall over the past four days, resulting in a total drop of 13.17% during this period.
The company's performance over the past year has been notably challenging, with a return of -27.56%, contrasting sharply with the Sensex's decline of just 1.79%. Despite this, Gokaldas Exports has reported healthy growth in net sales, which increased by 28.87% to Rs 2,958.90 crore, and a substantial rise in operating profit at 60.83%. The company has also posted positive results for the last three consecutive quarters, with a PAT growth of 52.6%.

However, the stock is trading below its moving averages across various time frames, indicating a bearish trend. Additionally, a high percentage of promoter shares, at 96.28%, are pledged, which could exert further pressure on the stock in a declining market.