Linde India approves capex proposal at Hero Hitech Cycle Valley

The Board of Directors of Linde India Limited has approved a capital expenditure proposal for setting-up of a 264 tonnes per day merchant Air Separation Unit in New Industrial Park, Hero Hitech Cycle Valley near Ludhiana in Punjab to secure growth in the gases business in Northern markets and deliver cost savings. The Board has approved a total capital expenditure of Rs. 1,521 million towards the construction of the aforesaid air separation plant, which is expected to be on stream by December 2023. This capital expenditure will be financed by the Company's own sources/internal accruals.

Shares of Linde India Limited was last trading in BSE at Rs. 2704.55 as compared to the previous close of Rs. 2709.20. The total number of shares traded during the day was 9247 in over 1848 trades.

The stock hit an intraday high of Rs. 2760.00 and intraday low of 2603.85. The net turnover during the day was Rs. 25026463.00.

Source : Equity Bulls

Keywords

LindeIndia INE473A01011 CapitalExpenditure MerchantAirSeparationUnit