Ashapura Minechem receives approval for 100% EOU at Jamnagar

Ashapura Minechem Ltd has announced that on applications made to the Development Commissioner, Kandla Special Economic Zone, Gandhidham, Kutch, the Company has received approvals vide their permission dtd. May 21, 2007 and dtd. May 17, 2007 to set up 100% Export Oriented Units (2 nos.) for Processed Bauxite at Jamnagar.

The said permissions are valid upto May 20, 2012 and May 16, 2012 respectively.

The grant of EOU status and operation of the said Units is likely to have a materially positive impact on the profitability of the Company.

The stock closed the day at Rs.278.05, down by Rs.5.15 or 1.82%. The stock hit an intraday high of Rs.291 and low of Rs.275.10. The total traded quantity was 79993 compared to 2 week average of 221431.

Source : Equity Bulls

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