Loyal Textile Mills Ltd approves modernization plan with capex of Rs. 180 crs

The Board of Directors of Loyal Textile Mills Ltd in their meeting held on Thursday 27 January, 2022 through video conference, have considered and approved the Modernization Plan with a CAPEX of Rs.180 Cr. to be taken up over next two years.

The Modernization Plan will be focusing on debottlenecking, replacement / renovation of old machinery to improve Productivity, Quality and reducing cost of production. The entire CAPEX will be funded through Internal accruals.

Shares of LOYAL TEXTILE MILLS LTD. was last trading in BSE at Rs. 1409.60 as compared to the previous close of Rs. 1369.55. The total number of shares traded during the day was 1256 in over 111 trades.

The stock hit an intraday high of Rs. 1443.95 and intraday low of 1345.00. The net turnover during the day was Rs. 1764181.00.

Source : Equity Bulls

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LOYALTEXTILEMILLS INE970D01010 ModernizationPlan Capex