Meera Industries shares advance on new order win

Gujarat-based textile yarn and textile manufacturer, Meera Industries announced in a press release on Friday that it has secured two orders from Thailand and Turkey.

The company stated in press release that the total worth of order is US$323,000 from two companies. The company has received order from Siam Brothers Corp (Thailand) worth US$206,000 and from ZM Makina Tekstil (Turkey) worth US$117,000.

The Thailand-based Siam Brothers Corp limited is engaged in manufacturing of fishing net, twines and ropes, while the ZM Makina Tekstil is a carpet yarn producer from Gaziantep in Turkey.

These orders will provide a fillip to the company's focus on globalization as a driver for growth. The orders are scheduled to be dispatched by the end of second quarter of FY 2019-20.

Meera Industries is engaged in the manufacturing of Yarn Twisting, Winding and Heat-Setting Machine for textile industries. The company’s products are sold under the brand name ‘MEERA’.

Stock closed at session higher by 4.42 per cent at Rs. 189 on BSE.