Andhra Paper Ltd board approves capex of Rs. 400 crores

The Board of Directors have on August 26, 2022 approved a capital expenditure amounting to Rs. 400 Crores to re-build and upgrade the existing Pulp plant to improve the reliability and efficiency of the Pulp Mill. This will help sustain the current levels of production, improve efficiency in Pulp Mill processes and lend flexibility in operations, augment pulp production capacity from existing 550 Tonnes per day to 600 Tonnes per day. The expected completion timeline is November 30, 2023. The proposal shall be funded through mix of debt and internal accruals.

Shares of ANDHRA PAPER LIMITED was last trading in BSE at Rs. 464.65 as compared to the previous close of Rs. 477.30. The total number of shares traded during the day was 16715 in over 1263 trades.

The stock hit an intraday high of Rs. 498.25 and intraday low of 461.15. The net turnover during the day was Rs. 8041378.00.

Source : Equity Bulls

Keywords

ANDHRAPAPER INE435A01028 CapitalExpenditure PulpPlant PulpMill