KEI Industries acquires land for expansion plans

KEI Industries Ltd has announced that in a step towards further expansion plans of the Company at Bhiwadi Distt. Alwar (Rajasthan) where the existing LT / HT manufacturing units / facilities are located, Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) has allotted Plot No. SP2-874-875 measuring 80,940 sq. m. (approx 20 acres) of land at Industrial Area Pathredi, Near Bhiwadi, District Alwar (Rajasthan).

The main objective of this land acquisition is to embark on further expansion plans for manufacture of Electric Wires & Cables and other electric equipments.

The stock was trading at Rs.89.90, up by Rs.0.40 or 0.45%. The stock hit an intraday high of Rs.92.70 and low of Rs.87.60. The total traded quantity was 298028 compared to 2 week average of 817949.

Source : Equity Bulls

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