Nakoda Textiles board to consider issue of bonus shares; 2 for 1 stock split; co forayed into wind power biz; stock rallies
Nakoda Textiles board is going to consider issue of bonus shares and 2 for 1 stock split. The board will meet on December 3. The stock has rallied 70% in last quarter.
In September, the company said that it had forayed into wind power segment and will invest Rs 41 crore for wind power project. The project will be financed by internal accruals and term loans. Wind power plant will have 9 turbines of 750 KW each. The project will be coming up at Tirunelveli district, Tamil Nadu.
Comapny’s net profit soared 100.6% to Rs 6.20 crore and net sales rose 31.4% to Rs 262.32 crore for quarter ending September 2009.
Nakoda Textiles touched a 52 week high of Rs 87.40 in today’s trade. The stock touched an intra day high of Rs 87.40 and an intra day low of Rs 72.50 and at 14:37 PM, the share was quoting at Rs 80.55, up Rs 3.20, or 4.14%, trading with volumes of 448,882 shares, compared to its 5-day average of 154,149 shares, an increase of 191.20%. On Friday, the share closed up 3.34% or Rs 2.50 at Rs 77.35.
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