Madras Aluminium to expand at an outlay of Rs.175 Crores

Madras Aluminium Company Ltd has announced that the Board of Directors of the Company at its meeting held on April 18, 2007, inter alia, has approved the expansion project of the Company at an outlay of Rs 175 crores.

Further the Company has informed that, the financial year of the Company was changed from June to March ending. Accordingly the results for the nine months represent the results for the fiscal period ended March 31 2007.

The stock closed the day at Rs.458, up by Rs.10.25 or 2.29%. The stock hit an intraday high of Rs.465 and low of Rs.451.20. The total traded quantity was 6618 shares compared to 2 week average of 4233.

Source : Equity Bulls

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