Sangam spurts on concluding Rs 1,800 crore worth expansion project

29 May 2012

Sangam (India) is currently trading at Rs 46.10, up by 1.45 points or 3.25% from its previous closing of Rs 44.65 on the BSE.

The scrip opened at Rs 46.50 and has touched a high and low of Rs 47.00 and Rs 45.00 respectively. So far 40025 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 51.90 on 21-Feb-2012 and a 52 week low of Rs 26.45 on 21-Nov-2011.

Last one week high and low of the scrip stood at Rs 47.50 and Rs 42.50 respectively. The current market cap of the company is Rs 181 crore.

The promoters holding in the company stood at 36.99% while Institutions and Non-Institutions held 5.24% and 57.76% respectively.

Sangam (India), a leading polyester-viscose dyed yarn manufacturer has completed its Rs 180 crore expansion project to double its denim capacity to 32 million metres with the commissioning of its second denim line of 8 meters.

As a part of expansion plan, the company has set up a two lines of denim for 8 million each. The first line commenced production in November 2011 while, the second line commissioned recently. The company has installed 2,304 rotters for open ended spinning along with of 3000 mtpa knitting capacity and 7200 mtpa texturizing yarn capacity at its existing facilities at Bhilwara in Rajasthan.

The company has also modernised its processing division by replacing new processing machines. The Rs 180 crore expansion project has been financed through a mix of term loan and internal accruals.

 Sangam (India) is one of the leading manufacturers of synthetic and blended dyed/grey spun yarn and fabrics in the country. The company also has its presence in the cotton yarn spinning and knitting, fabric processing and flock fabrics manufacturing segments apart from a denim manufacturing plant with processing facilities.

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