SEL Manufacturing Company Ltd: Ready To Explode
Moving Averages Analysis: All the short term moving averages have turned bullish for the scrip of SEL Manufacturing Company Ltd. Also, the current price of the scrip at Rs.3.70, is above both its 200DEMA and 200DSMA, which gives further confidence to the bulls.
- 21DEMA--Rs.3.76
- 50DEMA--Rs.3.64
- 100DEMA-Rs.3.58
- 150DEMA-Rs.3.54
- 200DEMA-Rs.3.53
- 21DSMA-Rs.3.81
- 50DSMA-Rs.3.54
- 100DSMA-Rs.3.48
- 150DSMA-Rs.3.51
- 200DSMA-Rs.3.57
SEL Manufacturing Company Ltd (SEL) is a leading vertically integrated textile conglomerate having a turnover of over Rs.2300 crore. SEL is operating in various textile sub-segments having facilities right from spinning and knitting, processing of yarns and fabric, to the value added products viz. terry towels and ready-made garments.
SEL Manufacturing Company Limited was ranked 14th as per Total Income in the Textiles Sector in Dun & Bradstreet's India's Top 500 Companies 2012. CLICK HERE.
SEL traces its origin in 1969, when it was established as a small garment manufacturing unit by the founder Chairman, Shri R.S. Saluja. Under the leadership of Mr. Neeraj Saluja, Managing Director, and Mr. Dhiraj Saluja, Joint Managing Director, the process of forward and backward integration started. SEL forayed into spinning in the year 2005 and thereafter, into terry towels in the November, 2008. Within a short span, the Group augmented its capacities to the level of 450,000 operational spindles in yarns (scheduled to be over a million operational spindles by the year end), 100 tonnes per day in terry towel manufacturing and 50 million pieces per annum in ready-made garments. Setting of India’s largest spinning unit of 4 lac. spindles at a single location at Village Mehatwara in District Sehore of Madhya Pradesh and its commissioning in a record time marks one of the latest achievements of the group.
SEL is driven by the vision of building a sustainable, profitable, growth oriented and socially responsible corporate through strong and effective systems, committed teams and satisfied stakeholders. Today SEL group is recognised as a “System Oriented Management Supported” corporate.
In March, 2012, SEL Manufacturing Company Limited acquired 99.88% stake in Omega Hotels Ltd and 51.09% stake in SEL Aviation. CLICK HERE.
Textile counters will be one of the biggest gainers from the depreciation of the INR against the USD, because like the IT sector a large part of their revenues comes form the exports. CMP: Rs.3.70.
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