Sutlej Textiles gains on getting nod to acquire Birla Textile Mills

16 Mar 2015 Evaluate

Sutlej Textiles & Industries is currently trading at Rs. 340.00, up by 2.00 points or 0.59% from its previous closing of Rs. 338.00 on the BSE.

The scrip opened at Rs. 342.00 and has touched a high and low of Rs. 350.00 and Rs. 340.00 respectively. So far 319 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. 207.95 on 25-Mar-2014.

Last one week high and low of the scrip stood at Rs. 360.90 and Rs. 330.00 respectively. The current market cap of the company is Rs. 573.40 crore.

The promoters holding in the company stood at 63.83% while Institutions and Non-Institutions held 0.04% and 36.13% respectively.

Sutlej Textiles & Industries has received an approval to acquire Birla Textile Mills, a unit/division of Chambal Fertilisers & Chemicals, located at Baddi in state of Himachal Pradesh, as a going concern from Chambal Fertilisers & Chemicals, on slump sale basis. The board of directors at their meeting held on March 14, 2015 has approved for the same.

The aforesaid transaction is subject to requisite approvals as may be required. The parties are currently negotiating and finalizing the terms of the Business Purchase and Transfer Agreement and the other related transaction documents, and shall sign these documents as soon as there is consensus.

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. 


Sutlej Textiles&Inds Share Price

62.90 3.65 (6.16%)
Jun 24, 18:03 View Price Chart
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