Ceekay Daikin to diversify into manufacture of Two Wheeler Clutches

Ceekay Daikin Ltd has announced that the Company has decided to diversify in manufacture clutches for Two Wheeler for motor cycle. The project will be set-up at existing unit at Greater Noida Plant. The total cost of the project is Rs 24 crores. The capacity will be 1 million clutches per annum. The commercial production is expected to start in October 2008.

Further the Company has also informed that the Company has also received approval as suppliers for Tata Motors Ltd for their small 1 lakh cars. Further Company is also developing clutch for two new models of Maruti Udyog Ltd.

The stock closed the day at Rs.80, down by Rs.0.55 or 0.68%. The stock hit an intraday high of Rs.84.85 and low of Rs.78.25.

The total traded quantity was 5249 compared to 2 week average of 8754.

Source : Equity Bulls

Keywords