Orientbell Tiles announces on-time completion of CAPEX projects adding incremental volume potential of 1.9 MSM p.a.

Orient Bell Limited (BSE: 530365; NSE: ORIENTBELL), has announced on-time completion of two of its projects involving CAPEX of ~Rs. 20 Crores:

- GVT Tile plant at Sikandrabad (U.P.) - increase in capacity by 0.7 MSM p.a.

- Conversion of Dora plant (Bharuch District, Gujarat) from Ceramic Floor to Vitrified Floor - incremental volume potential being ~1.2 MSM p.a.

"Consumers are progressively preferring larger and more high value products like vitrified tiles. To be able to cater to this shift in demand, we too are allocating more and more resources in development and production of these new age products.

Very pleased to announce that as committed, we have yet again delivered our two marquee CAPEX projects at Sikandrabad and Dora well ahead of schedule and within the CAPEX agreed" Aditya Gupta, CEO of the Company commented.

Shares of Orient Bell Limited was last trading in BSE at Rs. 579.55 as compared to the previous close of Rs. 579.65. The total number of shares traded during the day was 786 in over 105 trades.

The stock hit an intraday high of Rs. 582.30 and intraday low of 575.60. The net turnover during the day was Rs. 454151.00.

Source : Equity Bulls

Keywords

OrientBell INE607D01018 CapexProjects OnTimeCompletion CommercialProduction