Rajapalayam Mills soars on plan to sell assets of Tissue Culture Division

27 May 2013

Rajapalayam Mills is currently trading at Rs. 250.00, up by 7.90 points or 3.26% from its previous closing of Rs. 242.10 on the BSE.

The scrip opened at Rs. 251.95 and has touched a high and low of Rs. 251.95 and Rs. 245.00 respectively. So far 3 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 294.00 on 09-Nov-2012 and a 52 week low of Rs. 180.00 on 04-Jun-2012.

Last one week high and low of the scrip stood at Rs. 254.95 and Rs. 240.00 respectively. The current market cap of the company is Rs. 180.72 crore.

The promoters holding in the company stood at 53.15% while Institutions and Non-Institutions held 0.03% and 46.83% respectively.

Rajapalayam Mills has received an approval for the proposal to sell, lease or otherwise dispose the assets of the Tissue Culture Division viz., Shri Ramco Biotech subject to the consent of the Members of the Company under section 293 (1) (a) of the Companies Act, 1956 through Postal Ballot.

The board of directors at its meeting held on May 27, 2013 has approved for the same.

Rajapalayam Mills is engaged in manufacture and sale of yarns. It is one of the most advanced textile mill in the country and is setting the industry standard for quality and price for many years. Rajapalayam Mills is the first in the country to acquire an Open End Spinning machine in early eighties.

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Rajapalayam Mills Share Price

739.65 -4.50 (-0.60%) Mar 05, 18:59
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323