/ Nandan Denim Soars 12% As FPIs Can Now Invest Up To 49% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 4 January 2017


Nandan Denim Ltd is currently trading at Rs 123.05, up by Rs 13.15 or 11.97% from its previous closing of Rs 109.9 on the BSE. The RBI on Tuesday notified that foreign portfolio investors can now invest up to 49% in the company.

The central bank's notification follows a special resolution passed by the company to hike the limit for FPIs' holding in the company to 49% from 24%. The scrip opened at Rs 114 and has touched a high and low of Rs 126.85 and Rs 114 respectively. So far 714829 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 528.06 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 165.8 on 18-May-2016 and a 52 week low of Rs 97.2 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 112.5 and Rs 107.05 respectively. The promoters holding in the company stood at 58.27 % while Institutions and Non-Institutions held 12.02 % and 29.72 % respectively. The stock is currently trading above its 200 DMA.
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