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Sutlej Textiles shines on executing pact to purchase Birla Textile Mills

01 Jul 2015

Sutlej Textiles & Industries is currently trading at Rs. 492.00, up by 30.50 points or 6.61% from its previous closing of Rs. 461.50 on the BSE.

The scrip opened at Rs. 461.10 and has touched a high and low of Rs. 502.50 and Rs. 460.00 respectively. So far 54932 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 502.50 on 1-July-2015 and a 52 week low of Rs. 292.30 on 27-Mar-2015.

Last one week high and low of the scrip stood at Rs. 502.50 and Rs. 385.00 respectively. The current market cap of the company is Rs. 812.59 crore.

The promoters holding in the company stood at 63.83% while Institutions and Non-Institutions held 0.04% and 36.14% respectively.

Sutlej Textiles and Industries has executed business purchase agreement for purchase of Birla Textile Mills (BTM), a Division of Chambal Fertilizers And Chemicals (CFCL), by Sutlej, as a going concern, on slump sale basis. The Competition Commission of India has already approved the present transaction. The transaction is subject to fulfillment of various other conditions, as mentioned in the aforesaid Business Purchase Agreement, and further requisite approvals. It is expected that the transaction shall be completed by September 30, 2015.

Sutlej Textiles excels in all stages of textiles productions. Its versatile production facilities are vertically integrated, From Spinning and Home Textile.

Related Sutlej Textiles And Industries Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323