Bannari Amman Spinning Mills soars on plan to set up Garment Unit in Tamil Nadu

16 Nov 2015 Evaluate

Bannari Amman Spinning Mills is currently trading at Rs 223.10, up by 8.60 points or 4.01% from its previous closing of Rs. 214.50 on the BSE.

The scrip opened at Rs. 216.90 and has touched a high and low of Rs. 227.00 and Rs. 216.90 respectively. So far 5635 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 244.00 on 04-Aug-2015 and a 52 week low of Rs. 138.00 on 17-Nov-2014.

Last one week high and low of the scrip stood at Rs. 227.00 and Rs. 183.50 respectively. The current market cap of the company is Rs. 352.90 crore.

The promoters holding in the company stood at 55.55% while Non-Institutions held 44.45%.

Bannari Amman Spinning Mills has received its board's approval for setting up a new Garment Unit in Palladam Hightech Weaving Park, Palladam in Tamil Nadu to produce knitted Garments under the business name ‘Accel Apparels’. The expected project cost is Rs 30 crore and will provide employment for more than 1000 workers.

The expected business turnover will be Rs 100 crore. The project is expected to start production before the end of December 2015 and plans to run at full capacity between May 2016 and August 2016. The unit will produce 6.2 million pieces per annum. The unit will be capable of producing all knitted garments for men, ladies and kids and some woven applications.

Bannari Amman Spinning Mills, established in 1995 has a capacity of more than 140,000 spindles. The mill has a complete range of state of the art spinning equipment including Lakshmi Rieter Spinning machinery from Blow room to Spinning departments, Schlafhorst-338 model autoconers for yarn production.

Bannari Amman Spg Share Price

48.25 0.85 (1.79%)
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