Business: Shut. Revenue: Zilch. Stock soars 4,800% year to date

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NEW DELHI: Many Indian stocks have spun big money for investors in this bull run, growing at a breakneck speed. But none has made more money than Adinath Textiles. The stock has rallied a mind-numbing 4,800 per cent year to date. It is the best performing listed name on BSE. It has hit the upper circuit limit every day for the past 74 sessions. Problem is, the bull run on the counter seems to be a blind one. The company’s name may have 'textile' in it, but it would be foolish to think it is a beneficiary of the positive environment for the sector. Why, you ask? Adinath has not woven a single strand of yarn in the last two financial years. The company used to be a textile firm, with “an installed capacity of 4.800 spindles” and state-of-the-art machinery from Italy and France. But its machinery has been gathering dust for the past two years. “Due to no job work orders and accumulating losses, the company discontinued operations in the financial year 2019-20. Therefore,
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