MEERA Industries soars on securing order worth Rs 2.60 crore
MEERA Industries is currently trading at Rs. 69.40, up by 1.99 points or 2.95% from its previous closing of Rs. 67.41 on the BSE.
The scrip opened at Rs. 69.80 and has touched a high and low of Rs. 69.80 and Rs. 67.80 respectively. So far 1891 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 140.00 on 08-Oct-2024 and a 52 week low of Rs. 39.51 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 72.13 and Rs. 64.60 respectively. The current market cap of the company is Rs. 74.41 crore.
The promoters holding in the company stood at 61.40%, while Non-Institutions held 38.60% in the company.
MEERA Industries secured a domestic order worth Rs 2.60 crore for high bulk carpet yarn manufacturing solutions. This achievement underscores the company’s near-monopoly market share in the Indian carpet yarn sector, where the company is the trusted partner of virtually all major carpet yarn manufacturers. The project is scheduled to be completed in the fourth Quarter of financial year 2024-25.
The company has bagged order from Ganesha Ecopet which is a group company of Ganesha Ecosphere, India’s leading PET bottle recycling company. Ganesha Ecosphere specializes in converting post-consumer PET waste into recycled polyester staple fibers, spun yarns, and dyed texturized yarns. These products are widely utilized in carpet manufacturing, fabric weaving, and non-woven filling applications. As Ganesha diversifies into high bulk yarn manufacturing for carpets and bathmats, MEERA’s advanced solutions, including assembly winders, carpet cables, and bulking and heat-setting machines, form the backbone of their carpet yarn project.
MEERA Industries is engaged in the manufacturing of Yarn Twisting, Winding and Heat-Setting Machine for textile industries.
