Rajapalayam Mills commence production at new unit

India-based company engaged in the manufacturing of yarn, Rajapalayam Mills, announced the commencement of commercial production at its new unit.

In a BSE filing made on March 22, the company informed that the newly established yarn dyeing and weaving division of Rajapalayam Mills Limited, situated in the premises of Rajapalayam Mills, PAC Ramasamy Raja Salai, Rajapalayam-626117 has started its commercial production as well as sales, with effect from March 22, 2020.

Incorporated in the year 1936, Rajapalayam Mills Limited is small-cap company, operating in the textiles sector.  A member of Ramco Group, the company has a market cap of Rs 408.64 crore and operates in two segments-textiles & power generation from windmills. It has textiles manufacturing plants located in Tamil Nadu and Andhra Pradesh.

At 11.35 am on Monday, the stock of Rajapalayam Mills Ltd was trading at Rs 450.15, down by 18.75 per cent against its previous close of Rs 554.00. The stock hit fresh 52-week low today. Meanwhile, its 52-week high is recorded at Rs 932.00 on BSE.