Sutlej Textiles and Industries (STIL), a leading manufacturer of value added synthetic, cotton and blended yarns, fabrics & home textiles, witnessed a rise in share prices on Thursday, after it announced expansion of operations at one of its units viz, Damanganga Home Textiles, Daheli, Bhilad Gujarat at a cost of Rs 885 million. The project will be implemented in FY 15-16 and the same will result in increasing its capacities in existing facility to 9.6 million metres p.a from 2.5 million metres p.a.

To close the operations of one of the company's unit viz, Damanganga Fabrics, Daheli, Bhilad Gujarat in view of its uneconomic working. The company's decision to expand operations in home textile division will ensure further strengthening of its end to end operations-Yarns to Home Textile.

Shares of the company are trading at Rs 408, up Rs 22.1, or 5.73% at the Bombay Stock Exchange (BSE) on Thursday at 10:54 a.m.

The scrip has touched an intra-day high of Rs 412 and low of Rs 385.15. The total volume of shares traded at the BSE is 3,358.