Pasari Spinning to diversify into Retail Business

Pasari Spinning Mills Ltd has announced that the Company has proposed to Diversify its Expansion Activities into Retail Business. The promoter has acquired a Building of over 15000 Sqt in a Good locality, the Bangalore South. As the promoter of the Company is well known Exporter of Fabric and Finished Design Silk Material and Dresses, the Company propose to make use of their relationship to further the growth of the Company.

The Company is in the process of increasing the production capacity by addition of 24000 Spindles within the next Two Years. On Completion of the Expansion, the Company would have increase the production Capacity to 10 Tons per day with operation of 40,000 Spindles. The Turnover of the Company is expected to increase significantly. The Company is also installing combing Machines which will facilitate production of value added yarns.

The stock was trading at Rs.12.30, up by Rs.0.19 or 1.57%. The stock hit an intraday high of Rs.12.30 and low of Rs.12.06. The total traded quantity was 3000 compared to 2 week average of 39813.

Source : Equity Bulls

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