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Century Textiles and Industries rises as its arm acquires premium land for luxury residential project at Malabar Hill

24 Apr 2023 Evaluate

Century Textiles and Industries is currently trading at Rs. 678.05, up by 12.20 points or 1.83% from its previous closing of Rs. 665.85 on the BSE.

The scrip opened at Rs. 656.00 and has touched a high and low of Rs. 686.40 and Rs. 656.00 respectively. So far 20415 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 943.75 on 14-Sep-2022 and a 52 week low of Rs. 588.80 on 27-Feb-2023.

Last one week high and low of the scrip stood at Rs. 690.70 and Rs. 652.10 respectively. The current market cap of the company is Rs. 7588.05 crore.

The promoters holding in the company stood at 50.21%, while Institutions and Non-Institutions held 23.98% and 25.81% respectively.

Century Textiles and Industries’ wholly-owned subsidiary -- Birla Estates has acquired prime land parcel in South Mumbai’s upmarket residential area of Walkeshwar at Malabar Hill. The luxury project will hold a revenue potential of over Rs 600 crore.

Following the recent success of Birla Niyaara in Worli, Birla Estates is all set to enter the super luxury real estate market with the launch of boutique residences in one of Mumbai’s most upscale areas. The latest project in South Mumbai offers effortless connectivity and ease of access to key entertainment, retail and businesses, and city hotspots.

Century Textiles & Industries is principally engaged in manufacturing of Textiles, Cement, Pulp and Paper and Real estate.

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