Stock market update: Lorenzini Apparels Ltd a small-cap company in the garments and apparel sector saw its stock surge 20% today. Last seen the stock was trading at 10.92 rupees up 18.82% or 1.73 rupees on the NSE and at 10.99 rupees up 18.17% or 1.69 rupees on the BSE. The stock opened at ₹10.90 on the BSE today and later touched an intraday high of ₹11.16. The company has a market cap of ₹189.84 crore. It is a ready-made garments company. It manufactures designs and markets formal semi-formal and casual wear for men and women. The company operates through both in-house production and outsourcing i.e. third-party manufacturing. The companys net profit fell 88.33% to ₹1.42 crore in the September quarter (Q2FY26) compared to ₹12.17 crore in the same quarter last year. Meanwhile the companys sales increased 30.80% to ₹17.07 crore compared to ₹13.05 crore last year. While sales increased rising costs and weak operating margins significantly impacted the companys profitability. OPM declined from 13.79% to 4.45% putting pressure on overall profitability. PBDT declined from ₹16.49 crore to ₹2.24 crore and PBT fell from ₹15.97 crore to ₹1.86 crore. According to information received from the BSE the company has so far given a bonus once in March 2024 in the ratio of 6:11. This means that for every 11 shares held the company gave 6 equity shares free of charge. In March 2024 the company issued a bonus issue in the ratio of 1:10. This means that the company divided one equity share with a face value of ₹10 into 10 equity shares with a face value of ₹1 each. Meanwhile Benchmark indices Sensex and Nifty drifted lower in early trade on Wednesday as geopolitical tensions and renewed concerns about potential US tariff hikes weighed on investor sentiments. Sustained foreign fund outflows also dragged markets lower during the initial trade. The 30-share BSE Sensex declined 169.64 points to 84909.30 in early trade. The 50-share NSE Nifty went down 42.35 points to 26128.90.