Rajapalayam Mills soars on getting nod to establish Yarn Dyeing, Weaving Unit

30 May 2018 Evaluate

Rajapalayam Mills is currently trading at Rs. 1060.00, up by 25.60 points or 2.47% from its previous closing of Rs. 1034.40 on the BSE.

The scrip opened at Rs. 1033.05 and has touched a high and low of Rs. 1080.00 and Rs. 1033.05 respectively. So far 90 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 1583.00 on 04-Jan-2018 and a 52 week low of Rs. 905.05 on 11-Aug-2017.

Last one week high and low of the scrip stood at Rs. 1124.00 and Rs. 1030.00 respectively. The current market cap of the company is Rs. 770.81 crore.

The promoters holding in the company stood at 53.17%, while Institutions and Non-Institutions held 1.46% and 45.38% respectively.

Rajapalayam Mills has received an approval to establish Yarn Dyeing and Weaving Unit as a Division of the company. The Board of Directors of the company at their meeting held on May 29, 2018, approved the same.

The company is expected to increase the Sales turnover by 25% and corresponding increase in profits. The capacity of Loom state greige fabric is 10 Million Meters per annum and Dyed yarn is 1 Million kg per annum. The estimated project cost is worth Rs 265 crore and mode of finance is bank borrowings and internal accruals. It is expected to commence the commercial production during the Q1 of the Financial Year 2019-20.

Ramco Windfarms is engaged in generation and sale of electricity through windmills. Rajapalayam Mills is engaged in manufacture and sale of yarns.

Rajapalayam Mills Share Price

1114.00 61.90 (5.88%)
23-Dec-2024 11:15 View Price Chart
Peers
Company Name CMP
Trident 33.85
Filatex India 63.10
Nahar Spinning Mills 289.00
Nitin Spinners 473.05
Sutlej Textiles&Inds 69.33
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.