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17-May2018

Morarjee Textiles soars on planning to raise Rs 10 crore on private placement basis

Morarjee Textiles is currently trading at Rs. 36.50, up by 1.25 points or 3.55% from its previous closing of Rs. 35.25 on the BSE.

The scrip opened at Rs. 36.50 and has touched a high and low of Rs. 36.50 and Rs. 36.50 respectively. So far 100 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 7 has touched a 52 week high of Rs. 64.50 on 10-Jan-2018 and a 52 week low of Rs. 34.25 on 16-May-2018.

Last one week high and low of the scrip stood at Rs. 41.00 and Rs. 34.25 respectively. The current market cap of the company is Rs. 132.61 crore.

The promoters holding in the company stood at 59.71%, while Institutions and Non-Institutions held 4.72% and 35.57% respectively.

Morarjee Textiles is planning to issue of 10,00,000 Cumulative Redeemable Preference Shares of Rs 100 each aggregating to Rs 10 crore on a private placement basis. The meeting of the Board of Directors of the company will be held on May 24, 2018, to consider the same.

Morarjee Textiles (MTL) is a manufacturer of textile products. The Company is engaged in the business of manufacture of cotton fabric and fashion printed fabric.


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