EKC International FZE to set up approval for CNG Cylinder Facility in Egypt

EKC International FZE, Wholly Owned Subsidiary of Everest Kanto Cylinder Limited, in its Board Meeting held on February 24, 2022 at Dubai has given its in-principle approval for setting up of a CNG cylinder production facility in Egypt.

This will be in the form of a Joint Venture with a local Egyptian partner with majority holding being with EKC FZE.

This is subject to finalisation of terms and conditions for entering into Joint Venture Agreement and all regulatory approvals as may be applicable.

Shares of Everest Kanto Cylinder Limited was last trading in BSE at Rs. 190.95 as compared to the previous close of Rs. 201.00. The total number of shares traded during the day was 55166 in over 501 trades.

The stock hit an intraday high of Rs. 194.95 and intraday low of 190.95. The net turnover during the day was Rs. 10562597.00.

Source : Equity Bulls

Keywords

EverestKantoCylinder INE184H01027 EKC CNG CylinderManufacturingFacility Egypt