Bombay Dyeing plans organic growth
DSIJ Intelligence / 17 Mar 2017
Followed by the exhibit of a revival strategy the investor company Bombay Burmah increased its stake in Bombay Dyeing to 53.69 per cent on March 15, 2017 from a 14.35 per cent in December, 2016. This led to a 52-week high for Bombay Dyeing's stock at Rs 63.85, up by 7.6 per cent on March 15, 2017.
In an expansion spree, the prominent textile and manufacturing company, Bombay Dyeing has planned to launch 500 exclusive stores as franchises. Along with transforming 30 company owned outlets into experience centers, with anticipated retail turnover summing up to over Rs 1,000 crores.
The company will also be setting up an e-commerce platform besides investing in technology and promotions. Meanwhile, raising a fund of Rs 50 crore by the issuance of commercial papers for 90 days in February 2017. Besides earmarking over Rs 100 crores for the revamp for the next four years.
Followed by the exhibit of a revival strategy the investor company Bombay Burmah increased its stake in Bombay Dyeing to 53.69 per cent on March 15, 2017 from a 14.35 per cent in December, 2016. This led to a 52-week high for Bombay Dyeing's stock at Rs 63.85, up by 7.6 per cent on March 15, 2017.
The company witnessed a net loss of Rs 52.97 crore in the Q3FY17, while the revenue of the company was Rs 382.62 crore in Q3FY17.
The company's stocks closed at Rs 71.00 on the bourses, decreased by 0.28 per cent on March 17, 2017.
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