Nitin Spinners commences commercial production of expanded capacity

Nitin Spinners Ltd has announced that the Board of Directors of the Company at its meeting held on May 01, 2007, inter alia, has transacted the following:

- Commencement of Commercial Production on Expanded capacity:

The Company has successfully implemented Expansion Project of 50400 Spindles and Knitting Machines and commercial production on the expanded capacity commenced on May 01, 2007.

Further, the Installation of Thermal Power Project of 10.50 MW and expansion of Rotor Spinning capacity by addition of 2000 rotors at total project cost of Rs 78.00 crores is under implementation and expected to be completed during this year.

The stock closed the day at Rs.16.05, down by Rs.0.35 or 2.13%. The stock hit an intraday high of Rs.16.85 and low of Rs.16. The total traded quantity was 37538 shares compared to 2 week average of 67416.

Source : Equity Bulls

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