Sutlej Textiles Approves Stock Split In The 1:10 Ratio

Sutlej Textiles and Industries on Thursday informed that its board of directors in its meeting held on May 18, 2017, has approved raising Rs 500 crore in debt for funding working capital requirements and growth plans.

The company also posted a net profit of Rs 33.27 crore for the quarter ended March 31, 2017, as against Rs 50.91 crore for the same quarter in the previous year, as per BSE filing.

The board also recommended a dividend of Rs 13 per equity share on the shares having a face value of Rs 10 each for the financial year ended March 31, 2017.

The company has approved the sub-division of equity shares in the 1:10 ratio, according to the regulatory filing.

Meanwhile, the stock is trading at Rs 886.10 per share, up by 0.54% at 09:57 hours IST. It hit a high of Rs 893.25 and a low of Rs 854.65 so far.

Sutlej Textile has delivered nearly 50% in a period of one year and has outperformed the BSE Small Cap and BSE 500 indices over the same time period.

Sutlej Textiles and Industries Limited is an integrated textile manufacturing company. The company is a manufacturer of synthetic staple fibers yarn, man-made fibers blended yarn and cotton yarn, and fabrics.

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About Suhani Varma