Spinning wealth

INVESTING INSIGHT

The stocks of companies engaged in the cotton textiles and yarn spinning business have gained in the last three months on the Bombay Stock Exchange (BSE).

The expectation of a good cotton crop for the forthcoming season and the expected increase in the demand for cotton fabric is also pushing these companies to expand their facilities.

Shares of Arunoday Mills jumped from Rs 3.40 on July 1, to today's close of Rs 7.20, up 111.76 per cent on the Bombay Stock exchange (BSE).

During the same period the stock price of Bhilwara Spinners shot up from Rs 4.90 to Rs 6.50, up 32.65 per cent, Ashima increased from Rs 13.08 to Rs 22.60 up 63.76 per cent and Bombay Dyeing gained from Rs 137.40 to Rs 176.75, up 28.63 per cent. Arvind Mills rose from Rs 66.84 to Rs 79.50 up 18.94 per cent

Share price of Gangotri Textiles gained from Rs 45.35 to Rs 72.00, up 58.76 per cent, , Cheslind Textiles increased from Rs 18.50 to Rs 23.75, up 28.37 per cent, Emtex Industries moved up from Rs 3.30 to Rs 4.08, up 23.63 per cent and Eurotex Industries & Exports appreciated from Rs 23.40 to Rs 32.60, up 38.72 per cent.

Shares of Ginni Filaments gained from Rs 10.90 to Rs 13.00, up 19.26 per cent, GTN Textiles increased from Rs 38.00 to Rs 49.25, up 29.60 per cent, Hanjer Fibres moved up from Rs 2.54 to Rs 3.50, up 37.79 per cent and Hindoostan Spinning appreciated from Rs 13.90 to Rs 25.40, up 82.73 per cent.

JCT rose from Rs 4.18 to Rs 6.36 a rise of 52.15 per cent, Indo Count Ind rose from Rs 7.96 to Rs 13.59, up by over 70 per cent. Mafatlal Industries stock prices rose from Rs 15.00 to Rs 20.35, up 35.66 per cent. Lakshmi Mills rose from Rs 235.80 to Rs 466.35 up by 97.77 per cent. Maral Overseas rose from Rs 19.00 to Rs 28.50 and Morarjee Goculdas rose from Rs 33.95 to Rs 70.90 up by 108.83 per cent.

Malwa Cotton Spinning rose from Rs 45.30 to Rs 63.25 and Spentex Industries increased from Rs 4.88 to Rs 13.05 up by 167.41 per cent. Super Sales Agencies rose from Rs 32.00 to Rs 87.90, Swan Mills increased from Rs 119.95 to Rs 250.00 and Eskay K'n'it rose from Rs 3.26 to Rs 11.01. Sri Nachammai Cotton also increased from Rs 9.68 to Rs 24.40 up by 162.06 per cent, and Victoria Mills rose from Rs 165.00 to Rs 248.60.

At the same time HP Cotton Textiles rose from Rs 6.50 to Rs 13.38 and Kandagiri Spinning increased from Rs 36.00 to Rs 48.05 while Prime Textiles increased from Rs 12.45 to Rs 22.10.