The Pitch Report: Sutlej Textiles - BUY - TP Rs.1220 - Kotak

Sutlej Textiles and Industries Ltd was incorporated on 22.06.2005 and was created out of a corporate restructuring exercise in which the textiles division of Sutlej Industries Ltd. (SIL) and Daman Ganga Processors Ltd were demerged w.e.f. July 1, 2005. A flagship unit of the multi-business conglomerate promoted by Dr. K. K. Birla, Sutlej is among India's leading textile producers with a value-chain extending from yarns and fabrics to home textiles. STIL is among India's leading producers of dyed spun yarn and value added / speciality yarn. It also manufactures home textiles. It has a presence right from spinning (man-made & cotton yarns) to dyeing to weaving (processing of home textiles) and processing / finishing. It is amongst the few exclusive spinners in India for specialty yarns such as Modal, Lyocell and Tencel in the country. Its manufacturing facilities are located in Bhawanimandi (Rajasthan), Kathua (Jammu & Kashmir) and Daheli (Gujarat). The company also has its own captive power plants to ensure steady supply of electricity for uninterrupted production.

Shares of SUTLEJ TEXTILES & INDUSTRIES LTD. was last trading in BSE at Rs.957.05 as compared to the previous close of Rs. 904.85. The total number of shares traded during the day was 8491 in over 576 trades.

The stock hit an intraday high of Rs. 971.2 and intraday low of 915.15. The net turnover during the day was Rs. 8110413.

Source : Equity Bulls

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