Century Textiles and Industries jumps after its arm acquires 5.76 acres of land in Sangamwadi

Century Textiles & Industries is currently trading at Rs. 665.55, up by 16.15 points or 2.49% from its previous closing of Rs. 649.40 on the BSE.

The scrip opened at Rs. 660.55 and has touched a high and low of Rs. 669.00 and Rs. 655.65 respectively. So far 3779 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 949.00 on 12-Apr-2022 and a 52 week low of Rs. 588.80 on 27-Feb-2023.

Last one week high and low of the scrip stood at Rs. 669.00 and Rs. 621.35 respectively. The current market cap of the company is Rs. 7450.10 crore.

The promoters holding in the company stood at 50.21%, while Institutions and Non-Institutions held 23.78% and 26.01% respectively.

Century Textiles and Industries’ wholly owned subsidiary — Birla Estates has entered the Pune residential real estate market by acquiring 5.76 acres of land in Sangamwadi, a central business district in Pune. The land was purchased from Sudarshan Chemical Industries (SCIL).

This land parcel is located in one of the most premium locations in Pune with an estimated revenue potential of approximately Rs 2,500 crore. The company plans to develop a premium residential project in line with its intent to create thoughtful LifeDesigned spaces with curated amenities setting new benchmarks for contemporary living.

Century Textiles & Industries is principally engaged in manufacturing of Textiles, Cement, Pulp and Paper and Real estate.