M Cap: As 477cr
The vertically integrated textile major saw hectic selling on the bourses in the last one month. While MaviInvestment Fund sold a net of 2.25 lakh shares or 1.35 per cent, Nirmal Kotecha, a high net worth individual (HNI), around seven Iakh shares or 4 per cent stake in the company, which has been a part of his portfolio for long. As a result, the company’s average stock price fell by a whopping 41 per cent over the previous fortnight even as volumes more than doubled. SEL manufactures cotton yarns, combed yarns, knitted fabrics, and ready-made knitted garments in India at its facilities in Ludhiana (Punjab) and Baddi (Himachal Pradesh). The company also exports its products to Russia, Europe and Middle East. The company has chalked out a mega expansion plan of Rs 1,500 crore, wherein it will set up a technical textile manufacturing unit of 90 tonne per day (TPD) at Rs 611.67 crore and expand its terry towel project to 35 TPD. It is also scouting for targets as part of its inorganic expansion. It recently received an export order for 1.1 million pieces of readymade garments (innerwears) from Russia.
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