Pioneer Embroideries to acquire Arcot Textile Mill Ltd

Pioneer Embroideries Ltd has announced that the Board of Directors of the Company at its meeting held on September 20, 2007, inter alia, has approved to enter into MOU for purchase of manufacturing facilities of Arcot Textile Mill Ltd consisting of all fixed assets situated at Ulagankathan Village, Kallakurichi, Tamilnadu.

The stock closed the day at Rs.133, down by Rs.3.75 or 2.74%. The total traded quantity was 27881 compared to 2 week average of 44022.

The stock hit an intraday high of Rs.137.90 and low of Rs.132.70.

Source : Equity Bulls

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