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24-Jul2017

Fiberweb India gains on aiming to start production of Melt Blown Fabrics in August

Fiberweb (India) is currently trading at Rs. 319.95, up by 3.10 points or 0.98% from its previous closing of Rs. 316.85 on the BSE.

The scrip opened at Rs. 315.00 and has touched a high and low of Rs. 321.00 and Rs. 313.50 respectively. So far 2439 shares were traded on the counter.

The BSE group 'XC' stock of face value Rs. 10 has touched a 52 week high of Rs. 389.00 on 16-May-2017 and a 52 week low of Rs. 75.10 on 27-Jul-2016.

Last one week high and low of the scrip stood at Rs. 323.00 and Rs. 310.00 respectively. The current market cap of the company is Rs. 422.64 crore.

The promoters holding in the company stood at 56.63%, while institutions and non-institutions held 2.62% and 40.75% respectively.

Fiberweb (India) hope to start production of Melt Blown Fabrics during the month of August 2017. The Plant & Machinery covered by the first phase of the expansion programme, Melt Blown Line, shipped by the supplier has already arrived in port on July 18, 2017 and it is under clearance. The machinery is scheduled to reach the factory by the end of this month.

With this, the company in implementation of first phase of the expansion programme is well ahead of the planned date of October 2017, with a view to meet the increasing demand for Melt Blown Non Woven Fabrics. The Company is also expected to reap the benefits of improved price for its products.

Fiberweb India is engaged in manufacturing and exporting of Non-Woven Spun Bonded Polypropylene Fabric across the world.


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