GHCL is doing pretty well today; opening almost 3.5% higher at Rs.569, it rose 5% to an intraday high at Rs.576.90. . Its 52-week high is at Rs.686.65.
The company said on Friday evening that it inaugurated its new spinning unit at Manaparai in Madurai district of TamilNadu.
The unit is equipped with 39600 ring spindles to produce synthetic and synthetic blend compact yarn and has a production capacity of 23 tons per day.
The unit will produce Cotton/Polyester blend yarn; Cotton/Modal & Cotton/Excel blend yarn; Supima/Modal & Supima/Tencel yarn; 100% VSF, Micro Modal and Tencel yarn; 100% Bamboo and its blend yarn; Tri blend yarns.
With the commencement of this unit, GHCL's yarn division will now have an installed capacity of 224000 ring spindles and will be able to cater to premium segments both in the domestic as well as international markets. With an investment of Rs. 200 er, of which 75% has already been made and balance will be invested by the end of September 2022.