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Bombay Dyeing soars on plan to enter into manufacturing of textiles upholstery, curtains

21 Aug 2014

Bombay Dyeing & Manufacturing Company is currently trading at Rs. 71.30, up by 1.80 points or 2.59% from its previous closing of Rs. 69.50 on the BSE.

The scrip opened at Rs. 70.20 and has touched a high and low of Rs. 71.90 and Rs. 70.00 respectively. So far 231674 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 2 has touched a 52 week high of Rs. 87.55 on 09-Jun-2014 and a 52 week low of Rs. 43.30 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 71.90 and Rs. 65.55 respectively. The current market cap of the company is Rs. 1469.50 crore.

The promoters holding in the company stood at 52.35% while Institutions and Non-Institutions held 19.78% and 26.51% respectively.

Bombay Dyeing & Manufacturing Company is planning to foray into manufacturing and marketing of textiles upholstery and curtains. At present, the bed and bath products have been the mainstay of the company’s textiles business. Within that segment, the company has brought in new products - the latest being the mattresses.

Moreover, the launch of the new products could take place early next year. The entry of Bombay Dyeing into upholstery and curtains would mean introduction of tailoring services at retail points.

Further, the company has planned to increase own retail outlets to 50 from the current 22 in the domestic market. It is also experimenting with larger format of the stores to stock and display expanded product portfolio. The company has around 450 stores in the country, predominantly owned by franchisees.

The company is engaged in manufacturing wide range of cotton suitings, polyester cotton suitings, shoe lining and duck fabrics, satin furnishings, yarn dyed fabrics, towels, table tops and napkins, satin bed sets, etc. Textile manufacturing is main activity of Bombay Dyeing with 5 manufacturing facilities confirming to international standards.

Related Bombay Dyeing And Manufacturing Company Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323