Sudar Garments strengthens on getting nod for asset acquisition of Benzo Petro

Sudar Garments is currently trading at Rs. 69.25, up by 0.75 points or 1.09% from its previous closing of Rs. 68.50 on the BSE.

The scrip opened at Rs. 68.25 and has touched a high and low of Rs. 70.50 and Rs. 68.25 respectively. So far 115529 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 120.00 on 02-Aug-2011 and a 52 week low of Rs. 43.05 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 74.60 and Rs. 57.55 respectively. The current market cap of the company is Rs. 129.92 crore.

The promoters holding in the company stood at 49.09% while Institutions and Non-Institutions held 11.76% and 39.15% respectively.

Sudar Garments has got approval for acquisition of 100% assets and business of Benzo Petro International for total consideration to the tune of 26.00 crores. The board of directors has approved the acquisition at its meeting held on July 07, 2012.

The company is engaged in the manufacturing of garments for men wear, women wear and kids wear. It functions as an integrated apparel manufacturer with the capability of designing and manufacturing involving cutting, body stitching, washing, ironing and finishing.