Nitin Spinners is currently trading at Rs. 10.01, up by 0.14 points or 1.42 % from its previous closing of Rs. 9.87 on the BSE.
The scrip opened at Rs. 9.81 and has touched a high and low of Rs. 10.10 and Rs. 9.81 respectively. So far 16315 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 12.25 on 01-Feb-2013 and a 52 week low of Rs. 6.51 on 05-Jul-2012.
Last one week high and low of the scrip stood at Rs. 10.24 and Rs. 9.56 respectively. The current market cap of the company is Rs. 46.29 crore.
The promoters holding in the company stood at 62.64 % while Institutions and Non-Institutions held 1.08 % and 36.28 % respectively.
Credit rating agency, CARE has revised rating of Nitin Spinners’ Long-term Bank Facilities worth Rs 198.78 crore from BB+ to BBB- and Short-term Bank Facilities worth Rs 14.00 crore from A4+ to A3. The rating agency has also revised rating of company’s Long-term/Short-term Bank Facilities worth Rs 100 crore from BB+/ A4+ to BBB-/ A3
The company has received the said ratings on the back of its continued growth in scale of operations along with the improvement in profitability, leverage and liquidity indicators.
Nitin Spinners is engaged in manufacturing 100% Cotton Yarn and knitted fabrics. The company is having an installed capacity of 77,616 Spindles, 2,936 Rotors and 31 Knitting Machines.