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Neo Corp crawls higher on incorporating its wholly owned subsidiary

19 Dec 2011 Evaluate

Neo Corp International is currently trading at Rs 47.00, up by 0.80 points or 1.73% from its previous closing of Rs. 46.20 on the BSE.

The scrip after opening at Rs 47.00 went flat after 200 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 62.90 on 25-Jan-2011 and a 52 week low of Rs 37.00 on 28-Nov-2011.

Last one week high and low of the scrip stood at Rs 49.40 and Rs 39.50 respectively. The current market cap of the company is Rs 178 crore.

The promoters holding in the company stood at 12.19% while Institutions and Non-Institutions held 0.02% and 24.67% respectively.

Neo Corp International’s promoters have incorporated a Part IX Company -- Poly Logic International -- which becomes the wholly owned subsidiary of the company. The company shall be engaged in the business of trading and manufacturing of technical textile products.

Neo Corp International is engaged in making tailor designed products under Packtech. It reached the status of a fore-runner internationally as a reliable supplier of Packtech products.

Peers
Company Name CMP
Welspun Living 133.75
Vardhman Textiles 580.60
Arvind 435.40
K.P.R. Mill 954.80
Page Industries 37326.50
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