Asian Paints Ltd inks MoU for expansion project at an outlay of Rs. 960 crores

Asian Paints Ltd had earlier announced about its proposal to expand the existing manufacturing capacity of the Company's manufacturing facility situated at Ankleshwar, Gujarat.

The Company has today signed a Memorandum of Understanding with the Government of Gujarat, commencing the proposed expansion of manufacturing capacity of paint from 130,000 KL to 250,000 KL and resins and emulsions from 32000 MT to 85000MT to be completed over a period of the next 2 -3 years at a total investment of Rs. 960 crores (approx.) on plant and machinery at the current prevailing prices. This expansion will be carried out on the existing land owned by the Company.

Shares of Asian Paints Limited was last trading in BSE at Rs. 3143.90 as compared to the previous close of Rs. 3143.70. The total number of shares traded during the day was 59717 in over 4677 trades.

The stock hit an intraday high of Rs. 3167.95 and intraday low of 3092.65. The net turnover during the day was Rs. 187007769.00.

Source : Equity Bulls

Keywords

AsianPaintsLimited INE021A01026 ASIANPAINT Expansion MOU GovernmentofGujarat Paints Resins Emulsions Ankleshwar