Century Textiles trades jubilantly on the buzz of plan to sell paper division to ITC

22 Apr 2015 Evaluate

Century Textiles & Industries is currently trading at Rs. 768.00, up by 53.25 points or 7.45% from its previous closing of Rs. 714.75 on the BSE.

The scrip opened at Rs. 732.00 and has touched a high and low of Rs. 775.10 and Rs. 732.00 respectively. So far 440624 shares were traded on the counter.

The BSE group 'A ' stock of face value Rs. 10 has touched a 52 week high of Rs. 793.35 on 13-Apr-2015 and a 52 week low of Rs. 328.70 on 30-Apr-2014.

Last one week high and low of the scrip stood at Rs. 784.00 and Rs. 676.00 respectively. The current market cap of the company is Rs. 7696.41 crore.

The promoters holding in the company stood at 45.22% while Institutions and Non-Institutions held 20.87% and 33.91% respectively.

Century Textiles & Industries is reportedly in talks with ITC  to sell its paper division. Moreover, the company’s textile division will be merged with Aidtya Birla Nuvo.

Meanwhile, Century Textiles & Industries is planning to spin off its cement business and merge it in an all-share deal with India’s largest cement maker UltraTech. Both companies are in the final stages of a plan to merge the cement businesses.

Century Textiles & Industries has wide portfolio that manufactures yarn, denim, viscose filament rayon yarn, tyrecords, caustic soda, sulfuric acid, salt, cement and pulp & paper.

Aditya Birla Real Share Price

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Peers
Company Name CMP
Grasim Industries 2535.00
DCM Shriram 1024.00
Birla Corporation 1231.70
Surya Roshni 551.10
3M India 30800.00
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