Maral Overseas Ltd board approves expansion projects

The Board of Directors of Maral Overseas Ltd, at its meeting held today, i.e., Thursday, February 03, 2022, has approved the expansion of business.

The board approved proposal for setting up a spinning unit of 18864 spindles for producing yarn at its existing Sarovar Plant (M.P.) with estimated outlay of Rs.122.94 Crore. This unit is expected to commence production in F.Y. 2023-2024.

The board also approved proposal for setting up of new unit for the Garment business of Company at Noida (U.P.) with estimated outlay of Rs. 14.93 Crore. This unit is expected to commence production in second quarter of the FY 2022-23.

Shares of Maral Overseas Limited was last trading in BSE at Rs. 124.30 as compared to the previous close of Rs. 123.05. The total number of shares traded during the day was 1083 in over 60 trades.

The stock hit an intraday high of Rs. 126.70 and intraday low of 123.05. The net turnover during the day was Rs. 135316.00.

Source : Equity Bulls

Keywords

MaralOverseas INE882A01013 ExpansionProjects Spinning Garments