Mumbai, October 7 (Udaipur Kiran): Shares of Padam Cotton Yarns surged to the upper circuit limit of ₹4.46, rising 4.94% from its previous close of ₹4.25 on the BSE, after the company announced the signing of a term sheet to acquire equity shares in Rajasthani Namkeen (RNPL).
The stock opened at ₹4.34 and touched an intraday high of ₹4.46 and a low of ₹4.21, with 4,99,678 shares traded so far. The company’s market capitalization stands at ₹57.58 crore. Over the past 52 weeks, the stock has ranged between a high of ₹12.76 (January 13, 2025) and a low of ₹3.63 (October 7, 2024).
The company is fully held by non-institutional investors (100%).
As per the announcement, Padam Cotton Yarns has executed a term sheet with Rajasthani Namkeen (RNPL) to acquire equity shares valued at ₹13 crore. Of this, ₹2 crore will be paid in cash, while the remaining amount will be settled through share swapping.
This strategic acquisition marks Padam Cotton Yarns’ entry into the Food and Beverages sector, allowing the company to diversify beyond its current operations and expand its footprint into a high-growth consumer segment.
Currently, the company is engaged in the manufacturing of cotton yarn and also operates in the consulting business.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.