Trident jumps on commencing Bed-Linen production at Budni, Madhya Pradesh

23 Sep 2015

Trident is currently trading at Rs. 40.65, up by 2.40 points or 6.27 % from its previous closing of Rs. 38.25 on the BSE.

The scrip opened at Rs. 39.10 and has touched a high and low of Rs. 40.80 and Rs. 38.25 respectively. So far 811605 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 49.50 on 05-Aug-2015 and a 52 week low of Rs. 19.30 on 26-Mar-2015.

Last one week high and low of the scrip stood at Rs. 39.00 and Rs. 33.20 respectively. The current market cap of the company is Rs. 2065.92 crore.

The promoters holding in the company stood at 66.57 % while Institutions and Non-Institutions held 2.20 % and 31.23 % respectively.

Trident has commenced production at its integrated Bed-Linen project of 500 looms capable of producing 43.2 million meters of bed-linen per annum and 1.90 lac yarn spindles for captive consumption at Budni, Madhya Pradesh. The project involves capital investment of Rs 1667 crore and it will add potential revenue of Rs. 1200 crore at optimum utilization. The technology is expected to be stabilized by Q4 of FY16 and the stock exchanges will be informed accordingly. The Company expects to achieve 50 - 60% utilization by FY17. Post this expansion, the total capacity of Company's Textile division is 688 looms of Terry Towel, 500 looms of Bed-Linen, 5.55 lac yarn spindles and 5504 rotors of Cotton Et Blended Yams.

Trident is the flagship company of Trident Group, a $1 billion Indian business conglomerate and a global player. Headquartered in Ludhiana, Punjab, Trident is the largest terry towel and wheat straw based paper manufacturer in the world.

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