The stock witnessed a solid surge from the close of Rs 109.65 on 21 July 2005 to close at a peak of Rs 238 on 29 August 2005. Here the scrip witnessed profit taking to close at Rs 188.40 on 23 September 2005.

Gangotri Textile flared up today after its board approved a liberal 1:1 bonus issue. This is the first time the company has declared a bonus issue. The company’s board also approved a 1:2 stock split.

Gangotri Textile board has drawn up a Rs 350-crore investment plan, and will also set up an integrated weaving, processing and garment facility.

The Rs 180-crore turnover company, Gangotri Textile, earlier chalked up plans to strengthen its `Tibre’ apparel brand and is working on an expansion cum forward integration project covering spinning, weaving, processing and garmenting facilities with an outlay of Rs 351 crore.

For Q1 June 2005, Gangotri Textile reported 20.4% fall in net profit to Rs 2.14 crore (Rs 2.69 crore). Net sales declined 21.5% to Rs 35.36 crore (Rs 45.08 crore). The company had attributed the fall in turnover to drop in yarn realisation.