After obtaining a technical textile order worth Rs. 60.7 crore from the Odisha government, the textile stock jumped by over 7%. This tactical victory improves the company’s standing in the market by highlighting its expanding participation in the textile and infrastructure industries.
Changes in Price
The share price of Mafatlal Industries Ltd. rose 7% during Friday’s trading session, from its previous close of Rs. 193.20 per share to an intraday high of Rs. 206.65 per share. Since then, the price has dropped to Rs. 197.35 a share. The stock has produced remarkable gains of more than 1,500 percent during the last five years.
Reasons for the increase
Leading Indian textile company Mafatlal Industries Limited has won an order worth Rs. 60.7 crore from the Odisha government for technical textiles in the health and hygiene sector.
In order to encourage personal cleanliness among school-age females, the mandate entails providing sanitary napkins to government schools and the state medical company network throughout Odisha. It is anticipated that the project will be finished in the upcoming three to four quarters.
Management Analysis
“I am very delighted to announce the receipt of this order of sanitary napkins,” stated Chief Executive Officer Mr. M. B. Raghunath in response to the event. The procurement is consistent with the company’s plan to expand its technical textile hygiene business.
In 2016, the business made its debut in this market. The firm is dedicated to providing cutting-edge textile solutions that improve the general well-being of female students and satisfy their basic hygienic needs while also having a significant social impact.