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Hindoostan Mill arm rises on entering into collaboration with Japan based TOHO

25 Jun 2012

Hindoostan Mills is currently trading at Rs. 340.00, up by 7.10 points or 2.13% from its previous closing of Rs. 332.90 on the BSE.

The scrip opened at Rs. 339.90 and has touched a high and low of Rs. 340.00 and Rs. 339.90 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 526.65 on 31-Oct-2011 and a 52 week low of Rs. 88.00 on 01-Jul-2011.

Last one week high and low of the scrip stood at Rs. 340.00 and Rs. 280.00 respectively. The current market cap of the company is Rs. 56 crore.

The promoters holding in the company stood at 51.15% while Institutions and Non-Institutions held 1.93% and 46.92% respectively.

Hindoostan Mills (HML) - 100% wholly owned subsidiary of Hindoostan Technical Fabrics (HTFL) has entered into collaboration with Toho Tenax Company (TOHO), Japan, the core company of the Teijin Group's carbon fibers and composites business to jointly develop and market carbon and aramid fiber fabrics in India.

The focus of the collaboration will be on the Indian composite industry serving various industrial domains including transportation such as automotive, aerospace and railway, wind power, sports and leisure, medical equipment, construction reinforcement and retrofitting, electronics such as computer and mobile phone housings, as well as a host of other industrial applications requiring advanced carbon fiber based solutions.

Toho Tenax Company is a group company of Teijin and has some 150 companies and around 17,000 employees spread out over 20 countries worldwide.

Hindoostan Mills is engaged in manufacture and sale of textiles primarily in India. It offers cotton woven and synthetic blended fabrics, and cotton yarn.

Related Hindoostan Mills Ltd. Links:

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SEBI Registered: Investment Adviser - INA000013323