HP Cotton Textile Mills inches up on getting nod to subscribe equity shares of HP MMF Textiles
HP Cotton Textile Mills is currently trading at Rs. 93.97, up by 0.09 points or 0.10% from its previous closing of Rs. 93.88 on the BSE.
The scrip opened at Rs. 91.00 and has touched a high and low of Rs. 93.97 and Rs. 89.25 respectively. So far 1017 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 193.95 on 09-Aug-2024 and a 52 week low of Rs. 82.00 on 18-Mar-2025.
Last one week high and low of the scrip stood at Rs. 99.89 and Rs. 87.00 respectively. The current market cap of the company is Rs. 35.69 crore.
The promoters holding in the company stood at 64.90%, while Non-Institutions held 35.10% stake in the company.
HP Cotton Textile Mills has received approval to subscribe the equity shares of HP MMF Textiles, a wholly owned subsidiary company, offered by way of rights issue for a total amount aggregating up to Rs 10 lakh. Proceeds from the further issue of shares shall be utilized by HP MMF to cover its general and operational expenses.
There will be no change in the shareholding of the company in HP MMF. HP MMF will continue to remain a wholly owned subsidiary of the company. The said transaction is expected to be completed by March 31, 2025. The Board of Directors of the Company at its meeting held on March 24, 2025 has inter alia, approved the same.
HP Cotton Textile Mills is engaged in the manufacture of yarns and embroidery threads for both industrial and domestic usage.
