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Cheviot Company soars on buyback proposal

Cheviot Company surged 6.01% to Rs 1290 after the company said that its board shall meet on Saturday, 4 December, 2021, to consider the proposal for buy-back of ordinary shares of the company.

November 29, 2021 11:16 IST | capital market

The announcement was made during market hours today, 29 November 2021.

Cheviot Company is the flagship company of Group Cheviot. It owns Cheviot Jute Mills in West Bengal. The company manufactures jute products and jute fabrics with flexibility to cater to both domestic and international market. The company is renowned for manufacturing superior quality technical jute fabrics and fully customized jute shopping bags for export market at the export oriented unit situated at Falta Special Economic Zone in the state of West Bengal, India.

The companys net profit rose 77.09% to Rs 25.43 crore on a 36.23% increase in net sales to Rs 128.98 crore in Q2 FY22 over Q2 FY21.

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