Mar 28: Meera Industries Ltd (BSE: 540519) has won an export order from a reputed yarn manufacturing company in Indonesia for US$575,000. Share prices have rebounded 5% to Rs 201.05 in noon trade.
Surat based Meera Industries is a manufacturer of twisting, cabling, winding and other innovative yarn processing machines manufacturer. The company said that it could bag the order for twister/cabler machines for carpet yarn due to its innovative and most optimised cost performance ratio against domestic and overseas manufacturers. The order will be executed in the first half of FY19. More orders are expected from the customer in the coming months.
Meera Industries which was listed in the BSE SME Segment in May, 2017 had seen its shares rise 1091% over its listing price before falling back. With the Indonesia export order and more such orders likely, analysts expect the scrip to rebound in the coming sessions.