Jindal Speciality Textile (JSTL) has been promoted by Jindal Cotex (JCL) as a 100% subsidiary; JCL is engaged in manufacturing a variety of synthetic yarns i.e. acrylic, polyester and other blended yarns.

The company got the power connection in April 2014 and proposes to achieve additional sales turnover of Rs 1.9 to 2 billion on yearly basis with full capacity utilization and by this Jindal Cotex would benefited and additional profit of Rs 200-250 million of would be added on yearly basis.

Shares of Jindal Cotex declined Rs 0.45, or 2.09%, to trade at Rs 21.10. The total volume of shares traded was 199,370 at the BSE (10.20 a.m., Wednesday).