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VIJAY Textiles Ltd (VTL), the Rs 56-crore furnishings and upholstery fabrics manufacturer, is
picking up 4.17 per cent stake in Suryajyoti Spinning Mills Ltd (SSML), the Rs 122-crore yarn
manufacturer, through preferential offer route. Vijay Textiles, the manufacturer of furnishings,
accessories and upholstery fabrics, has proposed to open up three more retail stores with an
estimated investment of Rs 50 crore, as part of its retail strategy. The company
retail strategy initiative during last year has paid dividend and the company has decided to open
three more stores in Andhra Pradesh with an estimated investment of Rs 50 crore. The same will
be further expanded to other major metros in the country too, he added. Similarly, following an
encouraging response from the non-resident Indians for its fabrics, the company is also planning
to set up franchisees in New Jersey and Chicago in the US, apart from exporting to Gulf and
African countries.
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