Aether Industries Ltd announces possession of new industrial premise

Aether Industries Ltd has acquired and taken possession of New Industrial premises, located at:

PLOT NO. 8202/2/A, ROAD NO. 8, GIDC INDUSTRIAL ESTATE, SACHIN, SURAT - 394230, GUJARAT.

The site is adjacent to the recently commercialized Greenfield Manufacturing Site - 3. The said site will be termed as Manufacturing Site - 3+, as the Company will merge the same with Manufacturing Site - 3 for various regulatory approvals. Trial runs for Site - 3 have commenced and commercial production timeline which has been stated for month end will not be affected. The total cost for Site - 3+ will be Rs. 600 million to Rs. 700 million and this will be funded by internal accruals and funding from banks.

The Company will manufacture 3 (three) new products (specialty chemicals and intermediates), at this Manufacturing Site - 3+. These three products are developed in Company's in-house R&D Centre. These products will be manufactured for the first time in India, like most of our products.

Shares of Aether Industries Limited was last trading in BSE at Rs. 872.85 as compared to the previous close of Rs. 869.95. The total number of shares traded during the day was 2323 in over 559 trades.

The stock hit an intraday high of Rs. 876.70 and intraday low of 861.70. The net turnover during the day was Rs. 2017535.00.

Source : Equity Bulls

Keywords

AetherIndustries SpecialtyChemicals INE0BWX01014 Possession GIDCIndustrialEstate