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Donear: Weaving growth

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BS Research Mumbai
Last Updated : Feb 05 2013 | 12:35 AM IST
The Donear Industries (Donear) counter witnessed sharp recovery in the last two trading days as UBS Securities Asia bought 10 lakh shares of the company (roughly under 1 per cent of its equity) in a block deal on the NSE on March 1.
 
UBS bought the shares at Rs 160.85 a share. The stock recovered after this trigger from 156.75 to close at 172.35. However, on a week-on-week basis, the scrip fell 10 per cent.
 
Donear has well-known brands in India in its product category of suitings, trousers and shirting fabrics. It caters to the premium and middle segments.
 
The company's net profit fell 24.20 per cent in Q3 ended December 2006 to Rs 4.27 crore (Rs 5.63 crore). Net sales rose a marginal 5.20 per cent to Rs 35.12 crore (Rs 33.39 crore).
 
As in December, the promoters hold 75 per cent stake in the company, while public owns a mere 3 per cent and foreign investors 15 per cent.
 
In March 2006, Donear proposed to raise up to Rs 144 crore from a public issue to finance an expansion project, of manufacturing high-end premier shirtings.
 
The objective is to up production capacity to about 17.5 million metres from the current 11 million metres, which is produced at Silvassa.
 
The project is expected to become operational from December 2006.

 
 

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First Published: Mar 04 2007 | 12:00 AM IST

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