Introduction: Bombay Dyeing Share Signs Rs 5,200 Crore Agreement with Foreign Company
The textile sector of the stock market, Bombay Dyeing Share, has recently signed an agreement worth Rs 5,200 crore with a foreign company. This development is expected to have a significant impact on the stock, leading to a potential rise in its value. In this article, we will delve into the functioning of the company, its current position in the stock market, information about its returns, and details about the new agreement.
Bombay Dyeing And Manufacturing Company Ltd
Bombay Dyeing And Manufacturing Company Ltd was established in 1879 by Naoroji Wadia as a small operation focused on Indian spun cotton. Over the years, it has emerged as a major brand globally and in India. The company operates in various segments including textile, real estate, engineering and chemicals, healthcare, and polyester.
Current Status of Bombay Dyeing Share
Bombay Dyeing Share currently has a market capitalization of Rs 3,393.37 crore and a debt of Rs 3,642.04 crore. The company also has Rs 184 crore available in free cash and a promoter holding of 53.59%. Its sales growth stands at 33.63%, while profit growth is -12.19%.
Previous Return Information
In terms of returns, Bombay Dyeing Share has recorded -10% in the last 5 years, 27% in the last 3 years, and 34.8% in the last 1 year. Notably, in the last 6 months, the company has achieved a remarkable return of 129%.
Deal Worth Rs 5,200 Crore Successfully Completed
In a significant development, Bombay Dyeing Share has successfully completed a deal worth Rs 5,200 crore. The company had previously presented weak figures in its June 2023 results, indicating a weak annual performance. However, with the completion of this deal, the company stands to benefit financially. The deal involves the sale of 22 acres of land in Mumbai Worli to Japanese company Sumitomo Reality and Development Company Limited. The company has received Rs 4,675 crore in the first phase, with the remaining Rs 525 crore to be received in the second phase upon fulfilling certain conditions.
Bombay Dyeing Company Chairman Nusli Wadia expressed satisfaction with the successful completion of the deal. The received amount will aid in repaying the company’s debt and paying the interest in the future, alleviating some financial burdens.
Disclaimer: The purpose of this news article is to provide information only. Akhandindia.com.in does not provide investment advice, and investing in the stock market carries risks. It is advisable to seek expert advice before making any investment decisions.
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