Vardhman Textiles surges on getting nod to increase processed fabric capacity at Madhya Pradesh plant
Vardhman Textiles is currently trading at Rs. 475.80, up by 2.80 points or 0.59% from its previous closing of Rs. 473.00 on the BSE.
The scrip opened at Rs. 471.05 and has touched a high and low of Rs. 481.65 and Rs. 471.00 respectively. So far 4998 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 592.25 on 30-Jul-2024 and a 52 week low of Rs. 375.00 on 28-Dec-2023.
Last one week high and low of the scrip stood at Rs. 481.65 and Rs. 433.20 respectively. The current market cap of the company is Rs. 13821.11 crore.
The promoters holding in the company stood at 64.19%, while Institutions and Non-Institutions held 22.62% and 13.19% respectively.
Vardhman Textiles has received approval to increase the processed fabric capacity at Vardhman Fabrics, Budhni, Madhya Pradesh by about 31 million meters p.a. with a total capital outlay of around Rs 350 crore. The proposed capacity addition is to be added within two years. The objective of capacity enhancement is to meet increasing demand of processed fabric in both export and domestic markets.
The Board of Directors of the Company in its meeting held on November 28, 2024, has approved the same.
Vardhman Textiles is one of the pioneers in textile industry with operations in the segments of yarn, sewing thread, steel, and fabric.
