Textile stock inches close to 52-week high after Nippon Life India's stake buying

Shares of Iris Clothing moved closer to their 52-week high after Nippon Life India Asset Management picked up a sizeable stake in the textile company through a bulk deal.

According to NSE bulk-deal data, Nippon Life India Asset Management acquired 11.53 lakh shares of Iris Clothing on 27 August 2026, at an average price of ₹57.10 per share. The transaction has put the stock in focus and highlighted growing institutional interest in the company.

Earlier this month, Nippon India Equity Opportunities AIF had also acquired 15 lakh shares of Iris Clothing at an average price of ₹55 per share, according to NSE bulk-deal data.

The latest transaction by Nippon Life India Asset Management marks a separate investment and should not be confused with the earlier purchase. While Nippon Life India Asset Management is the asset management company, Nippon India Equity Opportunities AIF is a specific alternative investment fund managed under the broader Nippon India platform.

Iris Clothing Q1 Results

Iris Clothing Limited reported a strong improvement in its financial performance for the first quarter of FY27, with net profit rising to ₹401.24 lakh from ₹263.01 lakh in the corresponding quarter of the previous financial year.

Revenue from operations increased to ₹4,728.31 lakh in Q1FY27, compared with ₹3,742.59 lakh in Q1FY26. Total expenses during the quarter rose to ₹4,190.02 lakh, against ₹3,379.32 lakh a year earlier.

The company reported a tax expense of ₹137.05 lakh, compared with ₹100.26 lakh in the year-ago quarter. It also recorded other comprehensive income of ₹4.25 lakh, taking its total comprehensive income for Q1FY27 to ₹405.49 lakh.

In a key strategic development, the board of directors approved a proposal to acquire a 51% stake in Infinita Lifestyle Private Limited at its meeting held on 8 July 2026.

The proposed acquisition remains subject to shareholder approval and any other regulatory clearances required under applicable laws.

As of 30 June 2026, the company had no subsidiaries, associates, or joint ventures and therefore was not required to prepare consolidated financial statements.

Iris Clothing share price today

Iris Clothing share price today opened at ₹58.37 apiece on the NSE and moved between an intraday low of ₹58.11 and a high of ₹59.09.

At its intraday high, the stock was just ₹1.11, or around 1.84%, away from its 52-week high of ₹60.20, recorded on 21 August 2026.

According to Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, Iris Clothing has been in a strong uptrend since the beginning of the current financial year. This is reflected in the formation of a long Bullish Anchor Column of more than 20 bricks on its 3% × 3 Point & Figure chart.

However, Rathi noted that stocks that have witnessed sharp gains over a relatively short period can eventually face exhaustion, with early signs of profit booking now emerging in Iris Clothing. Despite the recent correction, he believes the broader trend remains firmly positive.

“The ongoing correction appears to be more in the nature of profit booking rather than a reversal of the broader uptrend,” Rathi said.

He added that the formation of a Bullish Bear Trap on the stock’s short- to medium-term 0.25% × 3 Point & Figure chart further suggests that sellers have struggled to establish sustained control at lower levels.

According to Rathi, the bullish structure remains intact across multiple time frames, with buyers maintaining a strong grip on the stock. In the absence of significant deterioration in the broader trend, he expects Iris Clothing to resume its upward trajectory and potentially reach higher levels.

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