The Hindu Business Line : Precot Mills gets re-listed on NSE

A company release issued here today said the shares of Precot Mills were traded on the NSE till November 2001 under the permitted category. But trading in the scrip was discontinued after the exchange removed the permitted security category. The company's efforts to get the shares listed on the NSE at that time did not fructify since the market capitalisation and paid-up capital were below the minimum requirement for listing.

In 2002, the company came out with a share buy back to provide liquidity to the shareholders. Since the present NSE guidelines allow listing based on networth of a company, Precot Mills' shares have been admitted for listing on NSE.

The company's shares are listed on Chennai and Coimbatore stock exchanges too. But as both of them are not functional, the shares are not traded.

Precot Mills is engaged in the manufacture of yarn and shirting fabrics. For the year ended March 2005, the EPS stood at Rs 15, the book value was Rs 190 and the reserves amounted to Rs 97 crore.

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