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RSR Mohota Spinning hits 52-week high; stock zooms 53% in one month

In past four months, it zoomed 246% from Rs 74 against a marginal 0.42% gain in Sensex.

SI Reporter  |  Mumbai 

RSR Mohota Spinning hits 52-week high; stock zooms 53% in one month

Rai Saheb Reckhchand (RSR) Mohota Spinning & Weaving Mills hit a fresh 52-week high of Rs 256, up 5% on BSE, extending its past one-month rally after the company said it has taken various initiatives including expansion plans.

In the last one month, the stock soared 53% from Rs 167, as compared to 2% decline in the S&P BSE Sensex. In four months, it zoomed 246% from Rs 74 against a marginal 0.42% gain in the benchmark index.

Vinodkumar Mohota, Chairman, RSR in a speech said that the company has undertaken ambitious and far reaching long-term wealth creating initiatives to take forward over 120 years of its history to the next level.

Some of the initiatives that the company is taking include the unlocking of the values in more than 200 acres of land bank, acquisition of stressed assets, to enter into the strategic partnership with the other companies from the real estate and infrastructure business and others.

The company is looking at acquisitions of stressed assets. These acquisitions will enable us to augment capacities on an immediate basis and add to the top and bottom lines in a shorter period at a lower CAPEX, he added.  CLICK HERE FOR FULL CHAIRMAN SPEECH

First Published: Thu, September 28 2017. 12:09 IST
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