Syncom Formulations India Ltd announces expansion project to increase capacity

The Board of Directors of Syncom Formulations India Ltd at their Meeting held on l8th day of December, 2020 has approved the project for expansion cum Modernisation of the company's existing plant 256-257 Industrial Area, Sector I Pithampur, District Dhar (M.P.) by setting up new injectable blocks having One Dry Injection line, one Liquid Ampule line and one Liquid Vile line. Also, modernisation in tablet dept. with new Effervercent Tablet block.

The cost of project is estimated to be Rs.4031.50 Lakhs including working capital margin of Rs. 1005.50.00 Lakhs.

The expansion project will be funded through Preferential Issue of Warrants convertible into Equity shares of Rs. l/- at a premium of Rs. 1.53 per Share.

Shares of SYNCOM FORMULATIONS (INDIA) LTD. was last trading in BSE at Rs.3.59 as compared to the previous close of Rs. 3.66. The total number of shares traded during the day was 10280486 in over 4561 trades.

The stock hit an intraday high of Rs. 3.73 and intraday low of 3.59. The net turnover during the day was Rs. 37525817.

Source : Equity Bulls

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