Greenpanel Industries Limited board approves Rs. 55 crore capex program at MDF plants

The Board of Directors of Greenpanel Industries Limited at its meeting held today considered and approved the Capex Program at MDF Plants at Rudrapur (Uttarakhand) and Chittoor (Andhra Pradesh).

The board approved the Capital Expenditure Projects at its MDF Plants situated at Rudrapur (Uttarakhand) and Chittoor (Andhra Pradesh) to enhance the productivity and efficiency and to generate Solar Power.

The installation of Wax Emulsion System will cost Rs. 26 crore and the installation of Mat Heating System will cost Rs. 29 crore. The Capital Expenditure shall be funded through a mix of internal accruals and debts.

Shares of Greenpanel Industries Limited was last trading in BSE at Rs. 122.05 as compared to the previous close of Rs. 122.60. The total number of shares traded during the day was 8398 and the deliverable quantity was 7980.

The stock hit an intraday high of Rs. 124.15 and intraday low of Rs. 119.

Source : Equity Bulls

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