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Suryalakhsmi Cotton gains on plans to invest Rs 150 crore to enhance spinning capacity

29 Nov 2012 Evaluate

Suryalakhsmi Cotton is currently trading at Rs. 75.00, up by 0.60 points or 0.81% from its previous closing of Rs. 74.40 on the BSE.

The scrip opened at Rs. 75.25 and has touched a high and low of Rs. 75.25 and Rs. 74.50 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 84.00 on 13-Sep-2012 and a 52 week low of Rs. 42.25 on 03-Jan-2012.

Last one week high and low of the scrip stood at Rs. 77.75 and Rs. 72.50 respectively. The current market cap of the company is Rs. 108.41 crore.

The promoters holding in the company stood at 64.22% while Institutions and Non-Institutions held 1.13% and 34.64% respectively.

Suryalakhsmi Cotton Mills has decided to invest Rs 150 crore, in order to increase its spinning capacity by 50,000 spindles from 65,000 spindles. It will fund this investment by raising Rs 80-100 crore through the Central Government-sponsored Technology Upgradation Fund Scheme (TUFS) and the rest will be tied up through internal accruals. The additional spinning capacity will be coming up at Ramtek, in Maharashtra and will be completed in two phases by 2014-end.

The company will be getting 4% interest subsidy under the TUF scheme and other that that the Maharashtra Government offers interest subsidy of up to 12.5% under its new textile policy.

Suryalakshmi Cotton Share Price

58.48 3.18 (5.75%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Welspun Living 125.45
Vardhman Textiles 557.75
Arvind 387.20
K.P.R. Mill 926.40
Page Industries 37935.70
View more..

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