Sangam India gains on receiving approval to increase FIIs limit to 49%

05 Aug 2015

Sangam India is currently trading at Rs. 220.40, up by 5.10 points or 2.37% from its previous closing of Rs. 215.30 on the BSE.

The scrip opened at Rs. 218.00 and has touched a high and low of Rs. 224.00 and Rs. 218.00 respectively. So far 2,505 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 225.80 on 04-Aug-2015 and a 52 week low of Rs. 68.00 on 20-Jan-2015.

Last one week high and low of the scrip stood at Rs. 225.80 and Rs. 208.00 respectively. The current market cap of the company is Rs. 876.00 crore.

The promoters holding in the company stood at 47.35% while Institutions and Non-Institutions held 4.67% and 47.98% respectively.

Sangam India has received an approval for enhancement of investment limits of Foreign Institutional Investors (FIIs) from 24% to 49% subject to approval of the members at the ensuing general meeting.

The board of directors at their meeting held on August 04, 2015 has approved for the same. The company has also received approval for an expansion programme having outlay of Rs 198 crore.

Sangam India 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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