Everest Industries to enter into 'Pre-engineered Steel Buildings' Business

Everest Industries Ltd has announced that the Company is entering into business of Design, Manufacturing, Supply and erection of Pre-engineered Steel Buildings.

Pre-engineered steel buildings are accepted as an alternate to conventional buildings in the construction sector. Most of the industrial, infrastructure and commercial buildings are being made using this technology which saves lot of construction time. This technology is fast, efficient and cost effective compared to conventional building methods. The acceptance has been phenomenal across all segments in India. This business is in rapid growth mode and this concept is globally accepted. The existing players are growing very rapidly.

There is a huge demand and supply gap at present and which will exist for quite sometime. Also the market size is constantly and rapidly growing as more and more people are converting from conventional buildings to steel Pre-engineered buildings.

The Company has been in the business of providing building solutions and products for over 7 decades in India and is regarded as the pioneer in this business and has built up a premium branding over a period of time. This business will provide synergy to its current operations.

For undertaking this business, the Company has commenced the setting up of its first plant at Bhagwanpur at Roorkee (Uttarakhand), which will be followed up by other Plants based on market growth.

The stock closed the day at Rs.107, up by Rs. 3.20 or 3.08%. The stock hit an intraday high of Rs.108 and low of Rs.103.05. The total traded quantity was 2295 compared to 2 week average of 2848.

Source : Equity Bulls

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