Trident soars on commissioning open end yarn spinning expansion project

16 Jul 2014

Trident is currently trading at Rs. 22.40, up by 0.75 points or 3.46% from its previous closing of Rs. 21.65 on the BSE.

The scrip opened at Rs. 22.25 and has touched a high and low of Rs. 22.60 and Rs. 22.05 respectively. So far 34335 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 27.30 on 09-Jun-2014 and a 52 week low of Rs. 6.08 on 01-Aug-2013.

Last one week high and low of the scrip stood at Rs. 23.85 and Rs. 20.10 respectively. The current market cap of the company is Rs. 997.01 crore.

The promoters holding in the company stood at 68.90% while Institutions and Non-Institutions held 1.81% and 29.29% respectively.

Trident, the flagship company of the Trident Group, has commissioned an open end yarn spinning expansion project on July 15, 2014, having manufacturing capacity of approximately 10,000 TPA of cotton open end yarn for meeting its yarn requirement for the terry towel unit in Budni.

The company has yarn manufacturing facilities at Sanghera in state of Punjab and Budni in state of Madhya Pradesh with total 3.66 lakh spindles and 3,584 rotors. Apart from the existing capacities of yarn manufacturing, the newly commissioned open end yarn spinning project at Budni now adds another 1920 rotors to its capacities. Trident commissioned the project within the envisaged cost and time schedule.

With an investment of Rs 60 crore on this expansion project, Trident has stepped forward towards self-reliant manufacturing processes as this open end yarn spinning project will serve the purpose of meeting its yarn requirement for the terry towel unit in Budni.

Trident is the flagship company of Trident Group with its array of customers spread across 75 countries. Trident is a leading manufacturer of Terry Towels, Paper, Yarn and Chemicals. The company has emerged as one of the largest manufacturers of terry towels and wheat straw based paper manufacturers in the world.

 

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