Bombay Rayon signs MOU with Maharashtra Government

Bombay Rayon Fashions Ltd has announced that the Board of Directors of the Company at its meeting held on November 13, 2007, inter alia, has considered and approved the terms and conditions specified by the Government of Maharashtra while offering a specific package of incentives, for setting up the Yarn Dyeing, Weaving, Processing and Garmenting units in the State at different locations involving total Investment of Rs 1100 crores (approx). The Board has approved the Memorandum of Understanding (MOU) and later the same has been signed between the Government of Maharashtra and the Company.

The stock closed the day at Rs.322.55, up by Rs.37.90 or 13.31%. The stock hit an intraday high of Rs.331 and low of Rs.283.

The total traded quantity was 869635 compared to 2 week average of 305987.

Source : Equity Bulls

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