Shree Rajasthan Syntex bounces back on CARE's rating reaffirmation

11 Aug 2011 Evaluate

Shree Rajasthan Syntex is currently trading at Rs 14.85, up by 0.90 points or 6.45% from its previous closing of Rs 13.95 on the BSE.

The scrip opened at Rs 13.00 and has touched a high and low of Rs 14.85 and Rs 13.00 respectively. So far 410 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 29.80 on 10-Nov -2010 and a 52 week low of Rs 13.00 on 11-Aug-2011.

Last one week high and low of the scrip stood at Rs 16.45 and Rs 13.00 respectively. The current market cap of the company is Rs 16 crore.

The promoters holding in the company stood at 47.31% while Institutions and Non-Institutions held 2.85% and 49.84% respectively.

Credit rating agency CARE has reaffirmed ‘BB-’ rating to Rs 151.15 crore long term bank facilities of Shree Rajasthan Syntex. The rating agency has also reaffirmed ‘A3’ rating to Rs 27.53 crore short term bank facilities of the company.

The ratings continue to factor in the company’s established track record in the blended yarn industry, well experienced promoters and improvement in the prospects for the blended yarn segment. The ratings also factor the improvement in financial risk profile marked by improvement in profitability during FY11, owing to an overall improvement in the industry scenario.

Shree Rajasthan Syntex manufactures yarn in the range of 18-30 counts. The company is currently having yarn manufacturing capacities of 67,584 spindles for synthetic/blended yarn, 14,520 spindles for cotton yarn and 3,600 MTPA production capacity of PPMF yarn, all located in Rajasthan.

Shree Rajasthan Syn. Share Price

7.00 0.00 (0.00%)
26-Mar-2024 16:00 View Price Chart
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