PG Electroplast Limited to acquire industrial plot

PG Electroplast Limited has entered into an agreement to acquire/purchase all leasehold interests and rights to an industrial land/plot measuring 10 acres adjacent to the Company's manufacturing facil ity situated at Supa Parner MIDC, Dist. Ahmednagar, Maharashtra at a tentative cost of Rs. 9.5 Crores. This land acquisition is initiating the next phase of capital expenditure for the Company. The industrial land acquired will be used to expand existing facility into a 20 acre integrated manufacturing campus and will enable the Company to significantly improve both its capabilities and capacities for manufacturing Air Conditioners and other appliances.

Shares of PG ELECTROPLAST LTD. was last trading in BSE at Rs.412.75 as compared to the previous close of Rs. 393.25. The total number of shares traded during the day was 34391 in over 547 trades.

The stock hit an intraday high of Rs. 412.9 and intraday low of 390. The net turnover during the day was Rs. 14140999.

Source : Equity Bulls

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