7 stocks locked in upper circuit of 20% on BSE

Cimmco, Star Paper, Modi Rubber and Cravatex among 7 stocks locked in upper circuit of 20% on BSE

Stocks of seven companies Cimmco, Star Paper Mills, Modi Rubber, Cravatex , GTN Textiles, Balkrishna Paper Mills and Shri Krishna Prasadam from the non-A group category ended in upper circuit of 20% each on BSE on the back of heavy volumes.

Cimmco has frozen in upper circuit for the second straight trading session, up 20% at Rs 88.20. The stock zoomed 44% in the past two trading sessions from Rs 61.25 on Wednesday.

Cimmco having installed capacity for manufacturing of wagons, coaches, underframe 2240 vehicular units (VUs) and industrial machinery 14200 MT per annum and comes under a large industrial unit.

Modi Rubber, the company engaged in tyres, tubes and flaps, too locked in upper circuit for the second day in a row at Rs 63.05, also its fresh 52-week high on BSE.

The company in annual report said that it has taken new initiatives to improve its long term prospects and performance. These include, the company is taking several steps to utilize its real- estate resources and wherever possible to put them to generate revenue and also exploring additional avenues of investment in new projects in joint ventures.

Cravatex surged 20% at Rs 248 after the company said its board approved execution of a binding Subscription and Shareholders Agreement (SSHA) among company, unit Cravatex Brands Limited (CBL) and investor Paragon Partners Growth Fund.
 

CBL will become unit from a wholly owned unit of company owing to investor holding minority equity stake in CBL at completion of investment.

CBL is a wholly-owned subsidiary of Cravatex, and has an exclusive long-term licensing agreement with Fila, an Italian sportswear and lifestyle brand, for footwear, apparel, and accessories. It has exclusive distribution rights, through its Proline Fitness division, for Johnson Healthtech (Taiwan), a maker of fitness equipment.

COMPANY	LATEST	PREV CLOSE	GAIN(%)	VOLUME
CIMMCO	88.20	73.50	20.00	558120
STAR PAPER MILLS	171.00	142.50	20.00	376292
GTN TEXTILES	17.40	14.50	20.00	21565
MODI RUBBER	63.05	52.55	19.98	32602
CRAVATEX	248.00	206.70	19.98	4755
BALKRISHNA PAPER	84.45	70.40	19.96	758977
SHRI KRISHNA PRA	9.98	8.33	19.81	40000