Sybly Industries gains on tying-up with GEM Enviro Management for marketing ‘SyGreen’

27 Sep 2016

Sybly Industries is currently trading at Rs. 12.17, up by 0.04 points or 0.33% from its previous closing of Rs. 12.13 on the BSE.

The scrip opened at Rs. 12.38 and has touched a high and low of Rs. 12.40 and Rs. 11.80 respectively. So far 941219 shares were traded on the counter.

The BSE group 'XD' stock of face value Rs. 10 has touched a 52 week high of Rs. 14.50 on 22-Aug-2016 and a 52 week low of Rs. 2.33 on 08-Oct-2015.

Last one week high and low of the scrip stood at Rs. 12.74 and Rs. 11.23 respectively. The current market cap of the company is Rs. 48.04 crore.

The promoters holding in the company stood at 23.78%, while Non-Institutions held 76.22% stake in the company.

Sybly Industries has tied-up with GEM Enviro Management for marketing of its polyester yarn made from recycled fiber under company’s brand ‘SyGreen’. SyGreen is a new brand name under which it plans to sell its Recycled Yarn which was launched a few weeks back.

GEM Enviro Management is already involved in recycling and sustainability. It has built up a good name for making sale of apparels and bags made of recycled fiber yarn to top companies under its own brand ‘Being Responsible’.

The tie-up with GEM will help Sybly in moving forward as the recycled yarn industry has a bright future. GEM will help in strengthening and building up a new market for what is currently being sold as more of a commodity rather than as a brand.

Sybly Industries is an India-based company engaged in manufacturing of polyester yarn and trading in fabrics. The Company is also engaged in wholesale of textiles, clothing and footwear, and preparation and spinning of textiles fibers.

 

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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