Sutlej Textiles gains on getting nod for Greenfield project in Jammu & Kashmir
Sutlej Textiles And Industries is currently trading at Rs. 74.80, up by 0.10 points or 0.13% from its previous closing of Rs. 74.70 on the BSE.
The scrip opened at Rs. 75.30 and has touched a high and low of Rs. 75.75 and Rs. 73.10 respectively. So far 9759 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 104.85 on 11-Jan-2022 and a 52 week low of Rs. 44.00 on 19-May-2021.
Last one week high and low of the scrip stood at Rs. 78.90 and Rs. 67.85 respectively. The current market cap of the company is Rs. 1225.44 crore.
The promoters holding in the company stood at 63.96%, while Institutions and Non-Institutions held 1.21% and 34.83% respectively.
Sutlej Textiles and Industries has received approval from its board for setting up of green field project for 89,184 spindles comprising of Cotton Mélange Yarn and PC Grey Yarn along with Dye House in Jammu & Kashmir at an estimated project cost of Rs 914 crore which will be implemented around Q4 FY25. The project will be funded through internal accruals and debt.
The existing capacity of the company in yarn production is around 4.21 lakh spindles. The company operates at around 94 -95% capacity utilization.
Sutlej Textiles and Industries primarily deals in cotton and man-made fibres yarn and home textiles.
