Century Textiles to raise Rs 700 crore on pvt placement basis

Century Textiles & Industries Ltd has informed BSE that the Board of Directors of the Company has approved issue of Non-convertible debentures on private placement basis for Rs 700 crore for general corporate purposes including long term working capital / refinancing.

Stock Commentary:
Century Textiles & Industries Ltd ended at Rs 909, up by Rs 19.35 or 2.18% from its previous closing of Rs 889.65 on the BSE.

The scrip opened at Rs 902 and touched a high and low of Rs 911.25 and Rs 891.05 respectively. A total of 1271245(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 10153.14 crore.

The BSE group 'A' stock of face value Rs 10 touched a 52 week high of Rs 980.3 on 10-Oct-2016 and a 52 week low of Rs 403.8 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs 933.45 and Rs 872.05 respectively.

The promoters holding in the company stood at 47.75 % while Institutions and Non-Institutions held 24.24 % and 28 % respectively.

The stock traded above its 50 DMA.