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Century Textiles & Industries rises on incorporating JV company with Grasim Industries

16 Jul 2021 Evaluate

Century Textiles & Industries is currently trading at Rs. 721.00, up by 8.10 points or 1.14% from its previous closing of Rs. 712.90 on the BSE.

The scrip opened at Rs. 718.10 and has touched a high and low of Rs. 729.85 and Rs. 718.10 respectively. So far 15322 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 729.85 on 16-Jul-2021 and a 52 week low of Rs. 290.20 on 16-Jul-2020.

Last one week high and low of the scrip stood at Rs. 729.85 and Rs. 680.00 respectively. The current market cap of the company is Rs. 7962.79 crore.

The promoters holding in the company stood at 50.21%, while Institutions and Non-Institutions held 21.63% and 28.16% respectively.

Century Textiles & Industries has incorporated a Joint Venture (JV) Company namely, ‘Birla Advanced Knits’ on July 14, 2021 to foray into manufacturing of Man Made Cellulosic Fibre (MMCF) Knit Fabrics in partnership with Grasim Industries (Grasim). The company has also executed a Joint Venture Agreement with Grasim. Both the parties will subscribe 50% each in the paid up equity share capital of the aforesaid Joint Venture Company.

The Company is principally engaged in manufacturing of Textiles, Cement, Pulp and Paper and Real estate.

Peers
Company Name CMP
Lodha Developers 1162.00
Prestige EstatesProj 1473.00
Dilip Buildcon 412.40
DLF 680.50
Oberoi Realty 1850.05
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