Lumax Industries Ltd approves capex, to set up office in Czech Republic

The Board of Directors of Lumax Industries Ltd, at their Meeting held on Friday, the 26th March, 2021, has considered and approved the Capital Expenditure amounting up to Rs. 80 Crores for setting up of the Company's new manufacturing unit(s) in Sanand, Gujarat to cater to the orders received from MG Motors and Other customers. The total Capex will be funded by mix of Debt and internal accruals and peak annualized turnover is expected to be approximately Rs 150 crs post commissioning. The project is expected to be operational by Q3 FY 22.

The board also approved setting up of an office in Czech Republic to strengthen the technological capabilities of the Company.

Shares of LUMAX INDUSTRIES LTD. was last trading in BSE at Rs.1576 as compared to the previous close of Rs. 1565.65. The total number of shares traded during the day was 735 in over 180 trades.

The stock hit an intraday high of Rs. 1603.95 and intraday low of 1542. The net turnover during the day was Rs. 1161567.

Source : Equity Bulls

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