Magna Electro to shut down production facility for expansion

Magna Electro Castings Ltd has announced that a major part of the production facilities at the Company's factory at Mullipadi village, Tamaraikulam Post, Pollachi Taluk, Coimbatore District will be shut down during the period from April 23, 2007 to May 06, 2007 to facilitate erection of machinery / equipments in respect of the plant capacity expansion from 600 tons per month to 900 tons per month.

The stock closed the day at Rs.102, down by Re.0.50 or 0.49%. The total traded quantity was 1434 shares compared to 2 week average of 6204. The stock hit an intraday high of Rs.105 and low of Rs.101.

Source : Equity Bulls

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