Sky Industries Limited Inks ₹49 Crore MoU with Gujarat Government for New Manufacturing Unit

Sky Industries Limited, a prominent player in the textile sector, has announced the signing of a Memorandum of Understanding (MoU) with the Government of Gujarat. The agreement, signed during the Vibrant Gujarat Regional Conference in Surat, outlines the proposed establishment of a new manufacturing facility dedicated to Technical Textiles and Apparels.

The initiative is part of an investment promotion activity aimed at strengthening the industrial footprint of the state while expanding the company's production capabilities.

Strategic Investment and Project Scope

The proposed project represents a significant capital commitment from Sky Industries, with a total investment value of ₹49 crore. Key details of the project include:

Nature of Facility: A specialized manufacturing unit focused on Technical Textiles and Apparels.

Location: The unit will be established within the State of Gujarat.

Timeline: The company proposes to commence the project within the current year, 2026.

The MoU serves as a facilitation arrangement between the company and the state government. Under the terms of the agreement, the Government of Gujarat will assist Sky Industries Limited in navigating the regulatory landscape. This includes providing support to obtain necessary permissions, registrations, and clearances from various state departments in accordance with existing policies and regulations.

Shares of SKY INDUSTRIES LTD. was last trading in BSE at Rs. 83.07 as compared to the previous close of Rs. 84.30. The total number of shares traded during the day was 2510 in over 26 trades.

The stock hit an intraday high of Rs. 85.73 and intraday low of 81.95. The net turnover during the day was Rs. 207287.00.

Source : Equity Bulls

Keywords

SKYINDUSTRIES INE765B01018 Textiles MoU GovernmentofGujarat