National Poly Yarn has bought 5.75 lakh shares of Sumeet Industries for an average price of Rs 27.37, through open market route valuing the transaction at Rs 1.57 crore. Moreover, Summet Shankarlal Somani has also bought 3.21 lakh shares in the company for an average price of Rs 26.99.
Sumeet Industries manufacturers and exports polyester yarn, polypropelene yarn and woven fabrics. The company’s products are marketed under brand name ‘Sumilon’.