Sangam India rises as promoter hikes stake in the company

26 May 2015

Sangam India is currently trading at Rs. 125.00, up by 6.80 points or 5.75% from its previous closing of Rs. 118.20 on the BSE.

The scrip opened at Rs. 120.90 and has touched a high and low of Rs. 125.40 and Rs. 118.00 respectively. So far 79800 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 126.00 on 25-May-2015 and a 52 week low of Rs. 37.40 on 30-May-2014.

Last one week high and low of the scrip stood at Rs. 126.00 and Rs. 98.70 respectively. The current market cap of the company is Rs. 486.86 crore.

The promoters holding in the company stood at 42.80% while Institutions and Non-Institutions held 5.16% and 52.04% respectively.

Sangam India’s promoter -- Sangam Business Credit -- has acquired around 5% stake in the company via open market transactions by purchasing 1.80 million shares at a price of Rs 75 per share. Meanwhile, the public shareholder, Withal Commercial has offloaded 1.80 million shares at price of Rs 75 per share.

Sangam is among the top three producers of PV dyed yarn in India with total spindleage of 201,216 numbers. The company also has 30 million metres per annum (mmpa) ready-to-stitch fabric manufacturing capacity, a 52mmpa fabric processing capacity and 40mmpa denim fabric manufacturing capacity.


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SEBI Registered: Investment Adviser - INA000013323
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