 "Shares of jute companies in focus; Gloster hits record high")
Shares of companies engaged in the business of manufacturing jute goods such as Gloster, Cheviot Company and Ludlow Jute & Specialities have rallied by up to 13% on the BSE in an otherwise subdued market.
Gloster has surged 13% to Rs 635, also its record high on the BSE in intra-day trade. Cheviot soared 11% to Rs 1,045, while Ludlow Jute & Specialities up 5% at Rs 73.25, also its 52-week high on the BSE. At 11:25 am, the S&P BSE Sensex was down 0.08% or 20 points at 25,473.
Since September 30, the market price of Ludlow Jute & Specialities and Gloster has appreciated by 149% and 122% respectively, while Cheviot Company soared 94% after reported a strong set of numbers for the recently concluded quarter.
The aggregate net profit of these three companies more than doubled to Rs 24 crore in September 2015 quarter as compared to Rs 10 crore in the corresponding quarter of previous year.
Shri Santosh Kumar Gangwar, the Union Minister of State (I/C) for Textiles, recently said that the export of jute products would go up, both in terms of volume and worth. CLICK HERE TO READ FULL REPORT.
Gloster has surged 13% to Rs 635, also its record high on the BSE in intra-day trade. Cheviot soared 11% to Rs 1,045, while Ludlow Jute & Specialities up 5% at Rs 73.25, also its 52-week high on the BSE. At 11:25 am, the S&P BSE Sensex was down 0.08% or 20 points at 25,473.
Since September 30, the market price of Ludlow Jute & Specialities and Gloster has appreciated by 149% and 122% respectively, while Cheviot Company soared 94% after reported a strong set of numbers for the recently concluded quarter.
The aggregate net profit of these three companies more than doubled to Rs 24 crore in September 2015 quarter as compared to Rs 10 crore in the corresponding quarter of previous year.
Shri Santosh Kumar Gangwar, the Union Minister of State (I/C) for Textiles, recently said that the export of jute products would go up, both in terms of volume and worth. CLICK HERE TO READ FULL REPORT.