The Board of Omax Autos Ltd in its Meeting held on today i.e. 7th September, 2018 has approved the proposal for establishing a new manufacturing unit at suitable location in the State of Uttar Pradesh, for manufacturing products and equipment supplied to Railways.
The existing capacity utilization is between 90 to 100% and the proposad plan would double the existing capacity.
The expansion plan requires approx. Rs. 100 Cr. to Rs. 120 Cr. which would be realized from disposal of existing surplus assets, internal accruals and external borrowings.
Shares of OMAX AUTOS LTD. was last trading in BSE at Rs.111.75 as compared to the previous close of Rs. 107.05. The total number of shares traded during the day was 9510 in over 121 trades.
The stock hit an intraday high of Rs. 112.4 and intraday low of 105.05. The net turnover during the day was Rs. 1064363.