Synopsis: A Gujarat-based cotton major has thrown its hat in the ring for a yarn manufacturer’s insolvency process. The move could open up a new growth avenue in the textile value chain.
There’s been some movement in the cotton and yarn space this week. A listed cotton bales manufacturer has decided to explore inorganic growth by stepping into the insolvency resolution process of another textile company. This isn’t just a routine filing, it signals the company’s intent to widen its footprint beyond raw cotton into yarn manufacturing too.
Shares of Axita Cotton Limited, with a market capitalization of around Rs.307 crore, are currently trading at Rs.8.04, up nearly 4.69% from the previous close of Rs.7.68. It…