BSL increases capacity of expansion project

The Board of directors of BSL Ltd, had earlier approved a Capex Plan of Rs. 125 Crores for installation of 20,064 Cotton Spindles and modernization of existing synthetic spinning, weaving and processing division of the Company. The civil construction work for the said project at existing site situated at Mandapam, Bhilwara - Rajasthan has been started and orders for Machines have been placed. Further the Board in its today's meeting has approved for increasing the size of Cotton spinning project from 20,064 Spindles to 29,184 Spindles. Thus the revised Capex Plan of the Company will be Rs. 168 Crores to be funded through Term Loan & Internal Accruals. The proposed Capex Plan will be completed within next 18 months.

Shares of BSL Limited was last trading in BSE at Rs. 111.60 as compared to the previous close of Rs. 116.55. The total number of shares traded during the day was 2777 in over 185 trades.

The stock hit an intraday high of Rs. 117.85 and intraday low of 110.75. The net turnover during the day was Rs. 317045.00.

Source : Equity Bulls

Keywords

BSLLimited INE594B01012 ExpansionProject CapacityIncrease Spinning