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Mohit Industries surges on bagging order worth Rs 30 crore

17 Jul 2012

Mohit Industries is currently trading at Rs. 61.40, up by 1.95 points or 3.28% from its previous closing of Rs. 59.45 on the BSE.

The scrip opened at Rs. 60.40 and has touched a high and low of Rs. 62.55 and Rs. 58.50 respectively. So far 166694 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 59.80 on 16-Jul-2012 and a 52 week low of Rs. 21.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 62.55 and Rs. 54.90 respectively. The current market cap of the company is Rs. 86.72 crore.

The promoters holding in the company stood at 61.80% while Institutions and Non-Institutions held 1.31% and 36.89% respectively.

Mohit Industries has secured an order from the Tamil Nadu Handloom Weavers Co-Operative Society, a Tamil Nadu Government Undertaking. The order is for supply of 25,00,000 Sarees and to be completed in the next 2 months. The total amount of the tender allocated to the company is about Rs 30 crore.

Mohit Industries (MIL) is involved in manufacturing of DTY (Drawn Textured Yarn) and grey fabric. The company’s plants are located at Kim (Surat) and Silvassa. Currently MIL has an installed capacity of 22537 MTPA for manufacturing DTY and 9.50 million metres pa for manufacturing grey fabric. The company also has a captive gas based power plant with power generation capacity of 451 KVA.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323