TIMKEN India Ltd to set up new manufacturing facility at Bharuch, Gujarat

TIMKEN India Ltd has announced that new manufacturing facility will be set up at Bharuch, Gujarat to manufacture Spherical Roller Bearings ('SRB') and Cylindrical Roller Bearings ('CRB') and components thereof.

The Company already has manufacturing plant at Bharuch, Gujarat wherein primarily Tapered Roller Bearings ('TRB') and its components are manufactured. At the same premises wherein existing plant is situated, new facility will be set up to manufacture SRB and CRB and components thereof which will enhance manufacturing capacity of the Company.

The investment of Rs. 600 crores for the above project will be raised through internal accruals.

The Company has manufacturing plants at Jamshedpur and Bharuch wherein primarily TRB and its components are manufactured. The Company at present does not manufacture SRB and CRB. SRB and CRB are mainly imported from Timken group companies across world and sold in India. The Company believes that SRB and CRB overall have good market in India and outside India.

Shares of Timken India Limited was last trading in BSE at Rs. 2929.40 as compared to the previous close of Rs. 2938.35. The total number of shares traded during the day was 2268 in over 651 trades.

The stock hit an intraday high of Rs. 2952.10 and intraday low of 2891.85. The net turnover during the day was Rs. 6624530.00.

Source : Equity Bulls

Keywords

TimkenIndia INE325A01013 NewManufacturingFacility Bharuch SphericalRollerBearings CylindricalRollerBearings