Century Textiles stock gains on issuing corporate guarantee of Rs 400 crore to Hindalco

Over the past one year, shares of Century Textiles and Industries have surged over 100 percent, more than doubling investors' capital.

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26 Aug, 2025 12:21

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Century Textiles and Industries shares gained around 3.5 percent in the morning session on September 5 after the firm issued a corporate guarantee valued at Rs 400 crore in favour of Hindalco Industries.

The corporate guarantee is related acquisition of a land parcel situated at Kalwa, Thane from Hindalco Industries by Ekamaya Properties, a wholly owned subsidiary of Birla Estates, which in turn is a wholly owned subsidiary of Century Textiles.

At 10 am, Century Textiles shares were quoting Rs 2,410.3 on the NSE, higher by 3.7 percent compared to the previous session's closing price.

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Century Textiles will pay this amount over a period of time, over multiple tranches. "The Corporate Guarantee issued will be as contingent liability in the books of the company. The amount of Corporate Guarantee shall continue to reduce as and when the amount of consideration is paid in tranches to HIL from time to time," said the firm in a filing with the exchanges.

On July 15, Birla Estates acquired a 5-acre land parcel in Gurugram. The land parcel offers a development potential of around 10 lakh square feet and is expected to generate revenue of over Rs 1,400 crore, the company stated.

“Gurugram has been a pivotal market for us from the outset. The real estate potential in this micro-market is immense and reinforces our strong focus in the Delhi-NCR region," KT Jithendran, MD and CEO of Birla Estates said in an exchange filing.

Over the past one year, shares of Century Textiles and Industries have surged over 100 percent, more than doubling investors' capital. During the same time, the Nifty 50 index gained 30 percent.

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