{"id":121538,"date":"2024-04-01T12:37:44","date_gmt":"2024-04-01T07:07:44","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=121538"},"modified":"2024-04-01T12:37:49","modified_gmt":"2024-04-01T07:07:49","slug":"textile-stock-jumps-3-4-after-company-commissioned-its-new-plant","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/textile-stock-jumps-3-4-after-company-commissioned-its-new-plant\/","title":{"rendered":"Textile stock jumps 3.4% after company commissioned its new plant"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-580208852\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Share prices of a micro-cap stock moved up by nearly 3.42 percent to Rs. 415.05 on BSE in the trading session of Monday, compared to the previous closing price of Rs. 401.3, after the company commissioned SSP and polyester spinning capacity.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3362737201\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market cap of Rs. 906.8 crore, at 10:47 a.m. the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/CENTENKA\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Century Enka Limited<\/a><\/strong> were trading in the green at Rs. 414.75, up by nearly 3.13 percent.\u00a0<\/p><p>According to the recent filings on the stock exchanges, Century Enka Limited has commissioned the Solid State Polymerization (SSP) and polyester spinning plant to be used in Polyester Tyre Cord Fabric (PTCF).&nbsp;<\/p><p>The company will now begin the process of PTCF approval with tyre companies. With this project completion, all approved projects under the previously mentioned Capex have been completed.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1293283691\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>On May 2021, the Board of the company approved the investment of Rs. 240 crores to strengthen its competitive position in the tyre reinforcement market by modernisation of plant, and augmenting capacity by ~30% and Rs. 23 crores for increasing the capacity of draw texturised yarn and mother yarn.&nbsp;<\/p><p>In terms of financials, the company\u2019s revenue from operations grew by 13.6% from Rs. 396.4 crores in Q2 FY23-24 to Rs. 450.57 crore in Q3 FY23-24, accompanied by an increase in the net profit of 8.8% to Rs. 4.67 crore in Q3 FY23-24 from Rs. 4.29 crore in Q2 FY23-24.&nbsp;<\/p><p>As of December 2023, FIIs hold 2.95 percent of the shares, while DIIs hold 6.27 percent of the shares in the company, aggregating to 9.22 percent of the institutional holdings.&nbsp;<\/p><p>Century Enka Limited is engaged in the business of manufacturing Nylon Tyre Cord Fabric (NTCF) used as reinforcement material in bias tyres and Nylon Filament Yarn (NFY) used mainly by the apparel industry.&nbsp;<\/p><p>The company was set up in 1965 by the BK Birla group and Enka International (a part of the Netherlands-based Akzo Nobel group). It is the largest NFY producer and the second-largest NTCF manufacturer in India.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Shivani Singh&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-547534533\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-2910310368\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Share prices of a micro-cap stock moved up by nearly 3.42 percent to Rs. 415.05 on BSE in the trading session of Monday, compared to the previous closing price of Rs. 401.3, after the company commissioned SSP and polyester spinning capacity.&nbsp; With a market cap of Rs. 906.8 crore, at 10:47 a.m. the shares of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":118360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[17483,17482,948,936,7915],"class_list":["post-121538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-century-enka-latest-news","tag-century-enka-share-price","tag-stock-market","tag-stock-market-news","tag-textile-stock-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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