Sangam (India) surges on making additional investment in Sangam Ventures
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Sangam (India) is currently trading at Rs. 218.10, up by 5.95 points or 2.80% from its previous closing of Rs. 212.15 on the BSE.
The scrip opened at Rs. 217.60 and has touched a high and low of Rs. 218.90 and Rs. 210.20 respectively. So far 421 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 422.00 on 28-Apr-2022 and a 52 week low of Rs. 185.00 on 20-Jan-2023.
Last one week high and low of the scrip stood at Rs. 254.00 and Rs. 212.00 respectively. The current market cap of the company is Rs. 957.92 crore.
The promoters holding in the company stood at 70.28%, while Institutions and Non-Institutions held 0.42% and 29.30% respectively.
Sangam (India) has made further investment to the extent of Rs 16.00 crore in Sangam Ventures, a wholly-owned subsidiary (WOS). Sangam Ventures has allotted 21,70,000 equity shares of Rs 10 each fully paid-up at a premium of Rs 63.82 per shares on March 30, 2023. The objective of the investment in shares of the WOS is to implement the seamless garments manufacturing and to enhance the product range of the company.
Sangam (India) is the largest producer of PV dyed yarn in Asia at a single location. It is also a forerunner in manufacturing ready to stitch fabric.
