Hind Syntex touches the roof on getting nod for one time settlement of total dues

12 Feb 2013

Hind Syntex is currently locked at its upper circuit limit of Rs. 7.19, up by 0.34 points or 4.96% from its previous closing of Rs. 6.85 on the BSE.

The scrip opened at Rs. 7.19 and has touched a high and low of Rs. 7.19 and Rs. 7.19 respectively. So far 1050 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 6.85 on 11-Feb-2013 and a 52 week low of Rs. 1.73 on 03-Apr-2012.

Last one week high and low of the scrip stood at Rs. 6.85 and Rs. 6.30 respectively. The current market cap of the company is Rs. 9.14 crore.

The promoters holding in the company stood at 30.36% while Institutions and Non-Institutions held 14.55% and 55.08% respectively.

Hind Syntex has received an approved for one time settlement of total dues of lenders e.g. ARCIL, Bank of India, Union Bank of India, State Bank of India and IDBI Bank for Rs 40 crore. The board at its meeting held on February 12, 2013 has approved the same.

The board also approved the share purchase agreement entered with Ravi Mohan, promoter and other with Manish Kumar and other acquirers for sale of 38,61,994 shares held by promoter and others in the company, at a price of Rs 8 per share.

Hind Syntex manufactures Single as well as Doubled Dyed & Grey Yarn for domestic and export markets in count range from 1/10 to 1/30 autoconed and 2/10’s to 2/30’s in Auto TFO quality. For domestic market they also manufacture 2/30’s non Auto TFO quality, in Grey & Dyed.

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