Mahalaxmi Rubtech shines on getting nod to set-up Coated Fabric project at Ahmedabad

05 Mar 2018 Evaluate

Mahalaxmi Rubtech is currently trading at Rs. 52.85, up by 2.00 points or 3.93% from its previous closing of Rs. 50.85 on the BSE.

The scrip opened at Rs. 50.85 and has touched a high and low of Rs. 52.95 and Rs. 50.30 respectively. So far 1871 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 70.70 on 24-Apr-2017 and a 52 week low of Rs. 43.00 on 14-Mar-2017.

Last one week high and low of the scrip stood at Rs. 54.15 and Rs. 48.00 respectively. The current market cap of the company is Rs. 60.74 crore.

The promoters holding in the company stood at 67.00%, while Institutions and Non-Institutions held 0.58% and 32.42% respectively.

Mahalaxmi Rubtech has received an approval to setup a new project of Coated Fabric, as a part of its expansion and diversification process under its existing Technical Textile Segment situated at Sanand, Ahmedabad. The project is subject to all legal and other formalities. The board of directors at its meeting held on March 3, 2018 has approved for the same.

The investment for the project would be estimated approximately amounting of Rs 25 crore. The means of financing would be managed from internal accruals, equity and debt. The commercial production of the project is expected by the end of November 2,018. The manufacturing facility is designed with most advanced technology in terms of better productivity and quality.

Mahalaxmi Rubtech is a manufacturer-exporter of rubber textile printing blankets and coated fabrics. The product range of the company includes Textile Printing Blankets, Air Cells, Hydraulic Seats and Rubber Coated Iron Fabrics. The company is also engaged in the business of Rubber Products, Textile Products.


Mahalaxmi Rubtech Share Price

291.00 6.10 (2.14%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
PDS 475.00
Vardhman Textiles 445.00
Arvind 269.20
Welspun Living 137.65
Alok Inds 25.75
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