On BSE, 530 shares were traded on the counter.

The share price rose from Rs 42.15 on 22 May 2007 to Rs 46.60 on 25 May 2007. It fell to Rs 40.25 on 30 May 2007. From that level, the stock rose continuously and settled at Rs 44.90 on 6 June 2007, ahead of the announcement.

The unit in Nagpur city which is proposed to be hived off, has an installed capacity of 28,080 spindles, Suryalata Spinning said after trading hours on Wednesday, 6 June 2007.

Suryalata Spinning Mills reported net profit of Rs 0.36 crore in Q4 March 2007 as against net loss of Rs 2 crore in Q4 March 2006. Sales rose 8.42% to Rs 50.32 crore in Q4 March 2007 as against Rs 46.41 crore in Q4 March 2006.

The net profit rose 5.62% to Rs 5.26 crore in the year ended March 2007 (FY 2007) as against Rs 4.98 crore in FY 2006. Sales rose 14.15% to Rs 193.68 crore in FY 2007 as against Rs 169.67 crore in FY 2006.

The company manufactures cotton yarn and blended yarn.