Nitin Spinners rose 3.6% to Rs 83.50 at 13:55 IST on BSE after net profit rose 34.3% to Rs 11.78 crore on 47.2% rise in total income to Rs 196.51 crore in Q1 June 2015 over Q1 June 2014.
The company announced results on Saturday, 25 July 2015.
Meanwhile, the S&P BSE Sensex was down 409.04 points or 1.46% at 27,703.27.
On BSE, so far 1.99 lakh shares were traded in the counter as against average daily volume of 1.41 lakh shares in the past one quarter.
The stock hit a high of Rs 85.40 and a low of Rs 75.10 so far during the day. The stock had hit record high of Rs 86.15 on 9 July 2015. The stock had hit 52-week low of Rs 21 on 11 August 2014.
The stock had outperformed the market over the past one month till 24 July 2015, rising 15.56% compared with Sensex's 1.38% rise. The scrip had also outperformed the market in past one quarter, gaining 103.54% as against Sensex's 2.46% gain.
More From This Section
The small-cap company has equity capital of Rs 45.83 crore. Face value per share is Rs 10.
Nitin Spinners also said on Saturday, 25 July 2015, that the board of directors of the company at its meeting held on 25 July 2015, inter alia, has approved the expansion project at an estimated project cost of Rs 300 crore. The company said it has archived full production capacity on expanded facilities installed in the year 2014-15. In order to further expand its product range and to establish leadership position in the market, the board of directors of the company have approved expansion project at an estimated cost of Rs 300 crore for additions in the capacity of ring spinning & rotor spinning facilities at the existing location. The project is proposed to be financed partly through term loan and partly through internal accruals. The expansion project is eligible for interest subsidy on term loan for capital expenditure under TUFS of Central Government and Rajasthan Investment Promotion Scheme, 2014.
Nitin Spinners is a Government of India recognized export house, manufacturing 100% cotton yarns and fabrics.
Powered by Capital Market - Live News