New order worth Rs 50 crore lifts Sumeet Industries on the bourses

Sumeet Industries is currently trading at Rs 15.60, up by 0.20 points or 1.30% from its previous closing of Rs 15.40 on the BSE.

The scrip opened at Rs 15.75 and has touched a high and low of Rs 16.00 and Rs 15.40 respectively. So far 32768 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 30.40 on 08-Sep-2011 and a 52 week low of Rs 12.45 on 27-Jul-2012.

Last one week high and low of the scrip stood at Rs 16.35 and Rs 15.35 respectively. The current market cap of the company is Rs 90.93 crore.

The promoters holding in the company stood at 44.42% while Institutions and Non-Institutions held 1.11% and 54.48% respectively.

Sumeet Industries has received order worth Rs 50 crore from Tamil Nadu Government through ‘The Tamil Nadu Handloom Weavers’ Co-operative Society’. Under this order, the company will supply 3500,000 numbers of synthetics sarees worth of Rs 41 crore and 10,00,000 numbers of dhotis worth Rs 9 crore.

Earlier in May this year, the company had successfully commissioned the 'Polyester Filament Yarn (POY/FDY) Plant' (direct spinning unit through PTA and MEG route) along with 8.6 MW Gas based Genset Captive Power Plant.

Sumeet Industries is mainly engaged in the business of manufacturing of PET Chips, Polyester Filament Yarn (POY and FDY) and Polypropylene Multifilament Yarn (PPMFY). The company is also recognized as an Export House by the Government of India