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TT trades jubilantly on inking $10 million MOU with Chinese textiles player

25 Oct 2013

TT is currently trading at Rs. 22.65, up by 1.35 points or 6.34% from its previous closing of Rs. 21.30 on the BSE.

The scrip opened at Rs. 22.50 and has touched a high and low of Rs. 22.65 and Rs. 22.50 respectively. So far 3933 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 31.85 on 15-Nov-2012 and a 52 week low of Rs. 18.80 on 26-Jun-2013.

Last one week high and low of the scrip stood at Rs. 22.65 and Rs. 21.00 respectively. The current market cap of the company is Rs. 48.37 crore.

The promoters holding in the company stood at 55.11% while Institutions and Non-Institutions held 0.01% and 44.88% respectively.

TT, a vertically integrated $100 million plus group, signed a $10 million MOU with one of the largest Chinese textiles player for sale of 100% cotton yarn in the coming year. This agreement was signed in India - China Business Matching Making Symposium sponsored by the Chinese and Indian respective Commerce Ministry and organized by CII.

The company is targeting a $40 million business in just China i.e. 50% growth over last year. Overall the company sells its products to over 62 countries spanning 5 continents - however since last year China is turning out to be the largest market.

TT (formerly named as Tirupati Texknit) is engaged in the manufacturing of combed cotton yarn, carded cotton yarn and knitted fabric cloth at its units at Gajroula (U.P) and Avinashi (Tamil Nadu). The company is a progressive organization with sound investments in good quality systems and innovative marketing.

TT Share Price

64.10 -0.70 (-1.08%) Jun 11, 18:01
1 Year Price Chart
Peers
Company Name CMP
Arvind 85.30
Welspun India 95.75
PDS Multinational 976.00
Vardhman Textiles 1435.10
KPR Mill 1561.35
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Sensex vs TT
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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