In a step forward in the technical textiles vertical, Arvind Ltd, country's largest denim maker, has entered into a joint venture agreement with a German firm, PD Fibre Glass Group to manufacture glass fabrics for the industries in wind power, shipbuilding and automobile sector. The company aims to generate revenues worth Rs 250 crore over a period of next three years from the new venture. A joint venture, Arvind PD Glass Composites Pvt Ltd has been set up with 51 per cent equity partnership of Arvind and 49 per cent of PD Group. For the two-phased project, the company will invest Rs 80 crore over a period of next five years. This is an extension of the operations as it already has expertise in the technical textiles segment. Glass fibre will be sold to a range of industries in India and overseas. As a strategic move, it is looking to leverage more on the technical textiles business. The company will manufacture woven, bi-axial and multi-axial glass fabrics along with stitched and chopped mat-glass fabrics at its existing unit at Santej near Ahmedabad.
The company will use imported machinery from Germany, which will cost around Rs 10 crore. The machinery is likely to be installed by February 2012 and production to start by March-April 2012. As a strategic expansion in the glass fibre manufacturing, Arvind looks to capitalise on its core strength, which is technical textiles. Resins, which is one of the materials for the company is made by the group company Atul Ltd. Also, it has a strong market presence, and thus it makes a sensible proposition for it to venture into this new initiative. Initially, the company will have an annual capacity of about 30,000 tonnes of glass fibre. Of the total production, about 30 per cent will be sold in domestic market, while the rest will be exported to countries in South East Asia and Middle East.
| Company Name | CMP |
|---|---|
| PDS | 551.70 |
| Welspun Living | 163.35 |
| Vardhman Textiles | 515.40 |
| Arvind | 385.75 |
| K.P.R. Mill | 1005.65 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Limited to the first 10 users today!
Practical Stock Investing Hand Book
By - Raymond Moses
Founder of MoneyWorks4Me | Consultant | Trainer | Author | TEDx Speaker
Register & Get Inatant Access!Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
