Breaking News

You are here » Indian-Commodity  :  Equity & Shares  :  Bannari Amman Spinning strengthens on receiving nod to hike stake in YBAPL

07-Jul2017

Bannari Amman Spinning strengthens on receiving nod to hike stake in YBAPL

Bannari Amman Spinning Mills is currently trading at Rs. 320.05, up by 14.35 points or 4.69% from its previous closing of Rs. 305.70 on the BSE.

The scrip opened at Rs. 312.00 and has touched a high and low of Rs. 325.00 and Rs. 305.05 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 356.00 on 31-Mar-2017 and a 52 week low of Rs. 237.00 on 08-Jul-2016.

Last one week high and low of the scrip stood at Rs. 325.00 and Rs. 292.00 respectively. The current market cap of the company is Rs. 504.22 crore.

The promoters holding in the company stood at 55.55%, while Non-Institutions held 44.45% respectively.

Bannari Amman Spinning Mills has received an approval to invest in its Joint Venture Company (JVC) - Young Brand Apparel (YBAPL). The board of directors at its meeting held on July 06, 2017 has approved for the same. After completion of this investment YBAPL will become a subsidiary of the company.

Presently, the company holds 33.33% stake in YBAPL and it has received an approval to acquire 18% stake pursuant to which the total holding of the company in YBAPL will reach 51.33%.

Bannari Amman Spinning Mills is engaged in the manufacture of grey woven fabrics, knitted fabrics and cotton yarn. The company is also engaged in the business of processing of fabrics, garments and wind power generation for captive consumption.



Related News

View all news

Mindtree rises on crossing $1 billion in annual revenue

Mindtree is currently trading at Rs. 983.85, up by 11.70 points or 1.20% from its previous closing of Rs. 972.15 on the BSE.The scrip opened at Rs. 977.00 and has touched a high and low of Rs. 986.45 and......

INDSIL Hydro Power trades in green on the bourses

Indsil Hydro Power and Manganese is currently trading at Rs. 60.00, up by 0.35 points or 0.59% from its previous closing of Rs. 59.65 on the BSE.The scrip opened at Rs. 60.40 and has touched a high and......

SpiceJet flies high on the bourses

Spicejet is currently trading at Rs. 142.10, up by 9.40 points or 7.08 % from its previous closing of Rs. 132.70 on the BSE.The scrip opened at Rs. 144.00 and has touched a high and low of Rs. 152.60 and......

Top News

View all news

Lupin seeks more time from commerce ministry to complete project in Indore SEZ

Lupin has sought more time from the commerce ministry to complete its project, with proposed investment of Rs 205.69 crore, in the Indore Special Economic Zone (SEZ). The company is setting up its pharma......

Tata Sponge Iron to shift its registered office to Kolkata

Tata Sponge Iron has decided to shift its registered office from Keonjhar in Odisha to Kolkata, subject to the approval of the members of the company and other regulatory authorities. The company has also......

GVK Power's arms ink pact with ADIA, NIIF

GVK Power and Infrastructure's subsidiaries -- GVK Airports Developer (GVKADL) and GVK Airport Holdings (GVKAHL) have signed a term sheet and exclusivity agreement with Abu Dhabi Investment Authority (ADIA)......