Sutlej Textiles and Industries surges on issuing CP worth Rs 25 crore

21 Oct 2014

Sutlej Textiles & Industries is currently trading at Rs. 357.60, up by 5.05 points or 1.43% from its previous closing of Rs. 352.55 on the BSE.

The scrip opened at Rs. 361.50 and has touched a high and low of Rs. 363.40 and Rs. 357.60 respectively. So far 327 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 445.45 on 23-Sep-2014 and a 52 week low of Rs. 155.00 on 21-Oct-2013.

Last one week high and low of the scrip stood at Rs. 380.00 and Rs. 350.25 respectively. The current market cap of the company is Rs. 592.73 crore.

The promoters holding in the company stood at 63.83% while Institutions and Non-Institutions held 0.02% and 36.15% respectively.

Sutlej Textiles and Industries (STIL), a leading manufacturer of value added dyed yarns - synthetic, cotton mélange, & home textiles, has issued Commercial Papers (CP) worth Rs 25 crore. The CP issue has been rated ‘A1+’ by Credit Analysis & Research (CARE). Instruments with the aforesaid rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

The rating derives strength from the experience of the promoters in the Textile industry (especially the dyed yarn segment) and business profile being amongst India's leading player in the dyed spun yarn and value added/speciality yarn.

Sutlej Textiles and Industries has 260,872 spindles for spinning yarn, six million metres a year for apparel fabrics, 1.6 million trousers a year and 3 million metres a year for home textiles fabric. It has plants in Jammu and Kashmir, Rajasthan and Gujarat.

Related Sutlej Textiles And Industries Ltd. Links:

Sutlej Textiles&Inds Share Price

89.85 -4.90 (-5.17%) Jan 21, 18:01
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