India's leading and fast growing electrical company - Finolex Cables announce their entry in the MCCB product category to strengthen its presence in the Domestic and Industrial Switchgear Market. Manufactured with the latest technology, these will be available in differential ratings, ranging from 63 to 800 Amps in various pole configurations. The switchgears have been introduced in 5 different frame sizes across the country. The MCCB launch will further strengthen the switchgear basket of the company and will give Finolex cables access to the enormous and robust Industrial switchgear market to serve its retail and panel builder clients.
Speaking at the occasion, Mr. Deepak K. Chhabria, Executive Chairman, Finolex Cables Ltd. said "As a leader in India's Electrical industry, Finolex is committed to develop technologically advanced products and solutions that meet industry needs, through technical innovation. The introduction of MCCBs is our latest step in delivering quality products to the industry. With our comprehensive product portfolio and its diverse applications, we continue to meet the requirements of a wide range of customers."
The MCCBs have been developed for use in applications like LT Panels, Control Panels etc. The MCCBs come with different breaking capacities along with required frame sizes. The low voltage switchgears provide centralized control and protection of low voltage power equipment and circuits in industrial, commercial and utility installations involving transformers, generators, motors etc.
Speaking on the new product launch, Mr. Amit Mathur, Head - Sales & Marketing, Finolex Cables Ltd. said, "The Industrial and OEM segment has been a stronghold of the company, we at Finolex have been servicing industrial/OEM clients for long time across product categories like Flexible cables, Communication Cable, Auto Cable, Solar Cable, LT/HT cables etc. Now with the introduction of Industrial Switchgear we shall further leverage upon our relationships with Industrial clients. Importantly, the launch of MCCB will help us in getting into the Rs 2000 crore strong Industrial Switchgear market. In which we are aiming to be an important player by offering quality products for the targeted Panel Builder & Retail Outlet community."
Finolex Cables has been steadily expanding into the Electrical segment with a product range that includes Electric Water Heaters, Fans, Miniature Circuit Breakers (MCBs), Switches and Lighting products. Its home products such as electrical switches, lights, fans and water heaters have been well-accepted, and are gaining traction in the market. Finolex Cables remains focused on growing this consumer-focused range steadily and continues to leverage their brand equity with the aim of becoming a complete electrical products company and a strong B2C player. The investments made by the company will be a source of competitive advantage, enabling them to capitalize on the unfolding opportunities and expand its business growth.
Shares of FINOLEX CABLES LTD. was last trading in BSE at Rs.403 as compared to the previous close of Rs. 384.7. The total number of shares traded during the day was 5754 in over 771 trades.
The stock hit an intraday high of Rs. 406.25 and intraday low of 388.25. The net turnover during the day was Rs. 2304413.