Pondy Oxides and Chemicals Ltd to set up aluminum recycling facility

Pondy Oxides and Chemicals Limited intends to set up an Aluminum Recycling / Melting Facility at its existing premises located in Sriperumbudur, Tamil Nadu as part of the Expansion Strategy for 2022 at an estimated total investment on plant and machinery and pollution equipment's of Rs. 5.00 Crores.

With a view to enhance the portfolio of other non-ferrous metals apart from Lead and Copper, the company has recognized an opportunity to recycle Aluminum. In this regard the Company has obtained Consent for Establishment from Tamil Nadu Pollution Control Board to manufacture Aluminum and Aluminum Alloys (Ingots/pellets/molten) - 14,750 MT/annum.

Consequently, the company is in the process for implementing all the relevant state of the art machinery, and targeted to have it installed and commissioned for production around December 2022. This would also help the Company to meet the demand(s) and consolidate its position in the market.

The company continuously endeavors to emphasize on the importance of recycling and to support and focus on environmental sustainability.

Shares of PONDY OXIDES & CHEMICALS LTD. was last trading in BSE at Rs. 496.40 as compared to the previous close of Rs. 502.25. The total number of shares traded during the day was 24470 in over 1072 trades.

The stock hit an intraday high of Rs. 509.80 and intraday low of 485.00. The net turnover during the day was Rs. 12120290.00.

Source : Equity Bulls

Keywords

PONDYOXIDESandCHEMICALS INE063E01046 Expansion AluminumRecycling Sriperumbudur TamilNadu