IID Forgings to set up CFS near JNPT

IID Forgings Ltd has announced that the Board of Directors at its meeting held on September 06, 2007 has took note of the approval of the Government of India, Ministry of Commerce & Industry, Department of Commerce, Infrastructure Division for setting up of a CFS near JNPT for handling of import and Export Cargo. This will also include a logistics park.

The cost of the proposed CFS and logistics park project will be approx. Rs 350 crores.

The stock closed the day at Rs.944.65, up by Rs.18.50 or 2%. The stock hit an intraday high of Rs.944.65 and low of Rs.933. The total traded quantity was 1258 compared to 2 week average of 6180.

Source : Equity Bulls

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