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Rajapalayam Mills shines on getting nod for capacity addition, establishment of fabric finishing proce

Rajapalayam Mills shines on getting nod for capacity addition, establishment of fabric finishing proce

Rajapalayam Mills is currently trading at Rs. 1076.00, up by 57.30 points or 5.62% from its previous closing of Rs. 1018.70 on the BSE.

Rajapalayam Mills

The scrip opened at Rs. 1120.00 and has touched a high and low of Rs. 1148.00 and Rs. 1070.00 respectively. So far 17233 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1354.00 on 27-Jul-2021 and a 52 week low of Rs. 556.37 on 30-Oct-2020.

Last one week high and low of the scrip stood at Rs. 1148.00 and Rs. 944.00 respectively. The current market cap of the company is Rs. 931.98 crore.

The promoters holding in the company stood at 55.12%, while Institutions and Non-Institutions held 3.18% and 41.70% respectively.

Rajapalayam Mills has received an approval for capacity addition of 166 Nos. of looms and establishment of fabric finishing process with a capacity of 50,000 meters per day in the company’s yarn dyeing and weaving unit.

The company is currently offering premium yarn and Loom state greige fabrics to leading fabric manufacturers in India and abroad. To meet out the increase in demand of fabric and to further increase the value of company’s supply, it is proposed expand the loom capacity and to establish fabric finishing process in its weaving unit. By establishing fabric finishing, the company can supply ready to stich finished fabrics to leading brands. It is expected to increase the sales turnover by 25% and corresponding increase in profits. The Board of Directors at their meeting held on October 30, 2021 has approves for the same.

Rajapalayam Mills is engaged in the manufacture and sale of yarns.