H P Cotton Textile Mills forms wholly-owned subsidiary; Stock jumps ~2%

29 Jun 2022 , 11:21 AM

H P Cotton Textile Mills Limited has informed the exchanges that it has incorporated a wholly-owned subsidiary in the name of “HP MMF TEXTILES LIMITED” on June  24, 2022.

As per the regulatory filing, the new subsidiary will carry out the business in the field of textiles.

Further, the objective of incoporation is to manufacture all kinds of textiles, yarns, fabrics, garments and other related products. HP MMF is yet to commence its business operations.

At around 11:21 AM, H P Cotton Textile Mills was trading at Rs124.75 per share up by Rs2.1 or 1.71% from its previous closing of Rs122.65 per share on the BSE.