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Sangam (India) gains on plan to invest Rs 120 crore to foray into garment segment

04 Aug 2014 Evaluate

Sangam (India) is currently trading at Rs. 77.95, up by 0.45 points or 0.58% from its previous closing of Rs. 77.50 on the BSE.

The scrip opened at Rs. 76.25 and has touched a high and low of Rs. 79.60 and Rs. 76.25 respectively. So far 4941 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 88.70 on 24-Jul-2014 and a 52 week low of Rs. 26.60 on 25-Sep-2013.

Last one week high and low of the scrip stood at Rs. 83.55 and Rs. 75.50 respectively. The current market cap of the company is Rs. 300.59 crore.

The promoters holding in the company stood at 42.80% while Institutions and Non-Institutions held 5.24% and 51.96% respectively.

Sangam (India), one of the largest textile companies with presence in PV (Polyester/ Viscose) dyed Yarn and fabrics segment and a fully integrated company from yarn to branded Fabrics, has  received board’s approval for its Rs 120 crore expansion plan to foray into garment segment.

The company plans to set up 10,000 spindles for slub yarn and mercerize unit along with improvement and modernization in processing division the company target to manufacture 10,000 pieces of seamless garment per day from next financial year.

The seamless knitted garments are used worldwide in Wellness wear, Yoga wear, Sportswear, Intimate wear, Body shapes and other wears. This Rs 120 crore expansion plan will be funded through a term loan of Rs 89.50 crore and balance through internal accrual. This expansion plan is slated to complete by March 31, 2015.

Seamless Garment technology is advancement in apparel industry which eliminates to large extent the fabric laying, cutting and sewing process. By eliminating the cutting and sewing process, complete garment knitting provides a variety of advantages in knitting production such as saving in cost and time, higher productivity quick production, homogeneity and other advantage. The company plans to install 36 circular knitting machines to be imported from Santoni, Italy, the world leaders in seamless knitting technology.

Sangam India Share Price

459.05 2.45 (0.54%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Welspun Living 125.45
Vardhman Textiles 557.75
Arvind 387.20
K.P.R. Mill 926.40
Page Industries 37935.70
View more..

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