Morarjee signs agreement to buy 49% stake of Just Textiles
26 Dec '05
1 min read
Morarjee Textiles is set to acquire 49 percent stake of Mumbai based processing house, Just Textiles.
Piramal Group, a well diversified Rs 3000 crore conglomerate owns Morarjee Textiles and has informed the national stock exchanges about its intent through a written communication.
Ending of the textile quotas has driven Morarjee Textiles to grab opportunities that have come up its way and thus, it plans to generate finance to fuel its expansion plans.
Traditional family owned Piramal Group has left the reign in the hands of the younger genration since June last, it is reliably learnt.
marketing@alchempro.com
