Sambandam Spinning Mills Ltd acquires plant and machinery consisting 27212 spindles

Sambandam Spinning Mills Limited has purchased Plant and Machinery from kandagiri Spinning mills Ltd., consisting of 27212 spindles.

The company's existing capacity is 89,052 spindles and the utilization is 90% to 95%. The proposed capacity addition of 27,212 spindles entails an investment of Rs. 21.43 crores (including GST). The funding will be raised through internal sources and partly bank borrowing.

The Company has taken on Lease "Land and Building" (on 16.03.2020)on which above referred plant and machineries are situated.

Shares of SAMBANDAM SPINNING MILLS LTD. was last trading in BSE at Rs.56.2 as compared to the previous close of Rs. 59.15. The total number of shares traded during the day was 200 in over 6 trades.

The stock hit an intraday high of Rs. 59 and intraday low of 56.2. The net turnover during the day was Rs. 11252.

Source : Equity Bulls

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