Sumeet Industries surges on getting nod to raise funds up to Rs 100 crore

Sumeet Industries Ltd. | Textile - Spinning | Textiles & Apparels | BSE: 514211 | NSE: SUMEETINDS

08 Oct 2012 Evaluate

Sumeet Industries is currently trading at Rs. 19.15, up by 0.30 points or 1.59% from its previous closing of Rs. 18.85 on the BSE.

The scrip opened at Rs. 19.50 and has touched a high and low of Rs. 19.95 and Rs. 18.50 respectively. So far 23,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 28.00 on 14-Feb-2012 and a 52 week low of Rs. 12.45 on 27-Jul-2012.

Last one week high and low of the scrip stood at Rs. 20.25 and Rs. 17.35 respectively. The current market cap of the company is Rs. 111.00 crore.

The promoters holding in the company stood at 44.42% while Institutions and Non-Institutions held 1.11% and 54.48% respectively.

Sumeet Industries has received an approval to raise funds up to Rs 100 crore for enhancing working capital due to capacity expansion and general purposes. Funds will be raised through further issue of equity shares by way of FPO/ Rights/ QIPs/ ADRs/ GDRs/ preferential allotments to strategic investors. The board at its meeting held on October 08, 2012 has approved for the same.

The company had recently completed its 180 crore expansion program for enhancing its spinning capacity for producing POY and FDY to100000 TPA and setting up new 8.6 MW captive Power Plants thereby enhancing total capacity power capacity to 17 MW.

The company has received overwhelming response in the quality of POY/FDY produced from recently commissioned and full result of this project will be reflected from third quarter of the current year’s operation. The company is excepting its turnover to cross Rs 1,000 crore in the current financial year.

Sumeet Industries is mainly engaged in the business of manufacturing of PET Chips, Polyester Filament Yarn (POY and FDY) and Polypropylene Multifilament Yarn (PPMFY). The company is also recognized as an Export House by the Government of India.

Sumeet Inds Share Price

30.18 -0.18 (-0.59%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Trident	26.58
Filatex India	44.54
Nitin Spinners	483.15
Nahar Spinning Mills	273.70
Sanathan Textiles	454.00
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