Sangam India zooms on making further investment to extent of Rs 7.60 crore in Sangam Ventures
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Sangam (India) is currently trading at Rs. 283.85, up by 25.40 points or 9.83% from its previous closing of Rs. 258.45 on the BSE.
The scrip opened at Rs. 258.00 and has touched a high and low of Rs. 297.35 and Rs. 255.00 respectively. So far 5167 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 423.40 on 24-Jan-2022 and a 52 week low of Rs. 73.55 on 01-Apr-2021.
Last one week high and low of the scrip stood at Rs. 297.35 and Rs. 255.00 respectively. The current market cap of the company is Rs. 1237.30 crore.
The promoters holding in the company stood at 61.45%, while Institutions and Non-Institutions held 0.84% and 37.71% respectively.
Sangam (India) has made further investment to the extent of Rs 7.60 crore in Sangam Ventures, a-wholly-owned subsidiary (WOS). Sangam Ventures has allotted 76,00,000 Equity Shares on 10 each on March 31, 2022.
Sangam Ventures, the Wholly Owned Subsidiary, was incorporated on December 03, 2021. It shall setup a world class plant for seamless garments. The product range will comprise of garments in various blends such as polyamide, spandex, polypropylene and natural fibres. The new plant of the WOS is under process of implementation. Objective of the investment in shares of the WOS 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.
