Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Shalimar Paints lays down the foundation of its Nashik manufacturing plant with a planned monthly capacity of 2,180 kilolitres

Posted On: 2018-10-16 09:08:40

Marking another major milestone in its century-long growth journey, Shalimar Paints, India's leading and most iconic paint manufacturer, has laid down the foundation of a manufacturing unit to be rebuilt in Nashik, Maharashtra.

Set to commence operations by April 2019 with a planned production capacity of 2,180 kilolitres per month, Shalimar's state-of-the-art Nashik facility will increase the brand's overall production capacity by 65%. It is also expected to stimulate the local economy by creating around 200+ employment opportunities for prospective jobseekers in the region.

Speaking on the announcement, Mr. Ashok Gupta, Vice Chairman, Shalimar Paints Limited, said, "Nashik is a key geography within the larger Delhi-Mumbai Industrial Corridor Project and is also an important industrial hub in West India, particularly the state of Maharashtra. As an important spiritual and cultural centre in the region, it is also a key market for Shalimar Paints. Establishing our newest manufacturing unit in the city will allow us to better cater to the demand from the local market, in addition to helping us bolster our pan-India supply chain. We are confident that, once operational, our Nashik plant will become an important part of Shalimar's countrywide manufacturing, sales, and distribution ecosystem."

The newest Shalimar plant hints at the brand's aggressive push to capitalise on the growing market demand for its high-quality, high-performance paint and coatings products, as well as to further consolidate its position as one of the fastest growing paints companies in the country. Shalimar has also pledged further investment into its Nashik plant and aims to establish it as a key component within its regional distribution network, as well as its pan-India supply chain.

The paint industry has been growing at a rapid rate in India and measures between 1.5 to 2 times GDP growth. Rapid urbanization, better transparency and consumer evolvement has been leading the growth of the industry.

Shares of SHALIMAR PAINTS LTD. was last trading in BSE at Rs.91.3 as compared to the previous close of Rs. 86.8. The total number of shares traded during the day was 18099 in over 369 trades.

The stock hit an intraday high of Rs. 95 and intraday low of 86.5. The net turnover during the day was Rs. 1672714.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

TAAL Enterprises Ltd Q4 PAT rises to Rs. 6.43 crores

Quess Corp Ltd to consider raising of Rs. 51 crores

Andhra Bank board approves proposal to raise Rs. 2000 crore

Welspun Corp Ltd fixes July 5, 2019 as record date for buy back

Quess Corp arm bags work order from Amazon

TTK Prestige Ltd board to announce Q1 results on August 12, 2019

IFCI to sell its 2.44% stake in NSE

Master Trust Ltd Board to consider Sub-division of equity shares

Eris Lifesciences Ltd Board to consider Buyback of equity shares

RITES announces 1:4 Bonus Share Issue

L&T announces offer for sale of shares of L&T Technology Services Ltd at Rs. 1650

Offer for Sale of Shares of SBI Life Insurance Company Ltd announced by Promoter

Zensar Technologies Ltd board to approve Q1 results on Aug 6, 2019

Emami Group Promoters divest 10% stake for INR 1230 cr in Emami Limited

Ind-Ra affirms long term rating of HEG Ltd

TCS hikes Stake in JV with Mitsubishi Corporation

Som Distilleries & Breweries Ltd calls for board meeting on July 3, 2019

RMC Switchgears Ltd appoints Ms. Neha Dusad as Company Secretary

GIC Housing Finance Ltd board to announce 1st quarter results on July 26, 2019

Motherson Sumi Systems Ltd board to consider Q1 results on August 12, 2019

Federal Bank Ltd announces retirement of Independent Director

Gujarat Borosil Ltd starts trial production of new furnace

Infosys announces strategic partnership with Toyota Material Handling Europe

SRG Housing Finance Ltd receives term loan from OBC of Rs. 15 crores

Prime Industries Ltd Board to consider Sub-division of equity shares

NTPC signs JV agreement with Power Grid

Facor Alloys Ltd enters into OTS with Bank of India

Forwardis signs Logistics Digital Transformation program with Ramco Systems

Future Enterprises Ltd approves NCD issue of Rs. 900 crore

Lakshmi Machine Works Ltd board to announce Q1 results on July 22, 2019

RITES Ltd board recommends 1:4 bonus issue

Bank of Mongolia drives digital transformation vision with Intellect Quantum Central Banking

HOV Services Ltd appoints Mr. Harjit Singh Anand as director of HOVS LLC

Omkar Speciality forays into CRAMS business

Alembic Pharmaceuticals receives USFDA Approval for Bromfenac Ophthalmic Solution 0.09%.

Tata Communications Bags Seven Awards at Frost & Sullivan's 2019 India ICT Awards

L&T Wins 2x660 MW power project order in Bihar

Glenmark to partner with Novartis to promote, commercialize and distribute three respiratory products in Brazil

Inox Wind Commissions Common Power Evacuation Systems with ISTS network at Dayapar, Gujarat

JMC secures new orders of Rs. 514 Crores

Dewan Housing Finance Corporation Ltd board to consider Q4 results on June 29, 2019

BHEL wins Rs.840 Crore Emission Control equipment order

Dr. Reddy's Laboratories launches Phytonadione Injectable Emulsion USP, 10 mg/ml Single-Dose Ampules in the U.S. Market

Network18 to sell stake in HSN Cyprus

Ind-Ra moves ratings of Reliance Infrastructure Ltd to IND D

Dr Reddys Laboratories Ltd receives 2 observations from US FDA audit for Vizag Plants

Confidence Petroleum India Ltd allots 33,50,000 warrants

Zuari Global Ltd to consider issue of NCDs

MBL Infra receives completion certificate for project

Glenmark Pharmaceuticals Limited updates on Ryaltris™







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019