Century Textiles

In a significant judgment, the Supreme Court has overturned a verdict directing the Brihanmumbai Municipal Corporation (BMC) to transfer the title of five acres land in Worli, Mumbai, to Century Textiles and Industries Ltd, now known as Aditya Birla Real Estate Limited. A bench comprising Justices Vikram Nath and Prasanna B Varale passed the judgment on January 7 while ruling in favour of the BMC and dismissing the plea of Century Textiles. Setting aside the Bombay High Court's verdict, the bench held the civic body was neither legally obligated to convey the land nor at fault for not executing the deed. In response to the verdict, a company statement read, "Aditya Birla Real Estate Limited (formerly known as Century Textiles and Industries Limited) is seeking legal advice to take necessary next steps in the matter. Aditya Birla Real Estate wishes to clarify that the said Land bearing is separate and distinct from and not impacting Birla Niyaara project at Worli." The judgement was

Antique expects large-to-mid real estate players to achieve 20 to 30 per cent growth in sales booking

The land parcel adds an approximate booking value potential of Rs 14,000 crore to the company

Analysts believe, Indian textiles companies are likely to benefit from the Bangladesh turmoil, while that of FMCG and auto may take a hit. Here's a technical outlook on key stocks from these sectors.

Shares of Century Textiles soared up to 5.9 per cent at Rs 2,347 per share on the BSE in Monday's intraday deals

The consolidated net loss of Century Textiles for Q2FY24 stood at Rs 32.87 crore. On YoY basis, the net profit stood at Rs 69.97 crore. In Q1FY24, the net loss stood at Rs 7.06 crore

Slowdown in construction activity, high inventory levels and cost spike key negatives

Century doesn't own 30 acres of land in Worli, it claims to own, says Nusli Wadia in public notice

The firm posted a profit of Rs 25 crore in Q1 FY22 as against a loss of Rs 36 crore in Q1FY21

Some plan to operate at 50% capacity, due to huge inventory piled up with distributors and retailers before the lockdown

The management is confident of sustaining and improving its performance in the second half (October- March) of the year on the back of revenue enhancement measures

Kumar Mangalam Birla joined the board of Century Textiles in 2006 and in 2015 became its vice-chairman.

Century Textiles & Industries today reported a multi-fold jump in its net profit at Rs 120.24 crore for the first quarter ended June 30, mainly on account of lower expenses. The company had posted a net profit of Rs 6.46 crore during the same period previous fiscal, Century Textiles & Industries said in a BSE filing. Total income during the quarter under review stood at Rs 2,342.76 crore, as against Rs 2,320.34 crore in the year-ago period. The company said it has recognised an income of Rs 28.46 crore on account of revision in estimates of future cash flows based on actual realisation of government grants. Total expenses during the period was Rs 2,159.46 crore compared to Rs 2,308.01 crore a year ago, down 6.43 per cent. The stock was trading 5.05 per cent up at Rs 1,285.65 on BSE.

Move aimed at bringing textile, fashion business under one roof

Several firms are moving resolutions to charge shareholders despatch fee and other expenses to answer such queries

Mangalam Cement surged 10% to Rs 216, while Century Textiles up 5% to Rs 512 on the BSE in intra-day trade.