Ester Industries Ltd board approves capital expenditure of Rs. 80 crores

The Board of Directors of Ester Industries Limited has approved Capital expenditure of Rs. 80 Crores for capacity expansion of certain grades of Speciality Polymer business. The existing capacity of these products is 6000 MTPA and the capacity utilization is more than 80%. The company proposes capacity addition of 6000 MTPA for these products. The Period within which the proposed capacity is to be added is 24 months. The investment of Rs. 80 crores will be funded through a mix of internal accruals and debt.

Shares of Ester Industries Ltd., was last trading in BSE at Rs. 150.4 as compared to the previous close of Rs. 148.15. The total number of shares traded during the day was 231686 in over 4482 trades.

The stock hit an intraday high of Rs. 159.7 and intraday low of 142.4. The net turnover during the day was Rs. 35451961.

Source : Equity Bulls

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