Sangam India bags exports order of Rs 35 cr; shares gain 3%

Moneycontrol BureauShares of Sangam India surged 3.5 percent intraday Thursday as it has bagged an export order of Rs 35 crore for polyster-viscose fabrics and denim.The company has received this order from Egypt, Saudi Arabia, Latim America and Afghanistan, which are to be executed in the next four months.R P Soni, Chairman of Sangam India said, "We have received an encouraging response to our denim and seamless products in the International market. We are hopeful of a much higher revenue contribution and better operating margin from exports going forward."As on date, company's pending order book stands at Rs 238.22 crore and of which Rs 125.60 crore pertain to exports.At 10:53 hrs Sangam (India) was quoting at Rs 320.35, up Rs 8.35, or 2.68 percent on the BSE.Posted by Rakesh Patil