Omnitex Industries (India) Ltd. Detail
As per the Company website it is currently engaged in the business of trading in yarn. The company has promoted a successful joint venture with a foreign partner in the field of technical textiles and infrastructure development. It has office in Mumbai.
The official website does not provide detailed information. It have only one liner at best. It seems company is not interested much in Online presence. It has created the website just for investor sector providing financial results and share holding pattern.
They do have these information in details and updated. This is what I liked about this Company.
Now lets look at performance of this company over the years.As per Dow theory of technical analysis price performance over a period of time reflects Company state.
Omnitex Industries (India) Ltd. Stock Performance
It is very slow moving range bound stock. For good 10 years between 2002 and 2012 it was trading between 5 and 10 INR price marks. From that point the range got shifted from 10 to 20 mark.
One thing I liked about this stock. Investors have not lost their money in this counter. It is slow moving and gave only 4 times return in past 16 years but it has not given negative return. Also there was no sudden up and down movement as well
Omnitex Industries (India) Ltd. My Opinion
Omnitex Industries Limited is in Textiles space. I personally dislike this sector and do not have any stock from this space in my own portfolio. But Subramanian P thought process is different. He has many textiles stocks in his portfolio.
I am more inclined towards Textile Machinery stock than textiles sector. There are too many players listed in this space each dealing with slightly different product from other.
I have textiles machinery stock in my portfolio but no textiles stock.In case you are interested then you can track the company by adding it to your stock watch list. That way you can keep close eye on the Company.