Navin Fluorine Advanced Sciences Ltd approves capex of Rs. 450 crores

The Board of Navin Fluorine Advanced Sciences Limited ('NFASL'), a wholly owned subsidiary of Navin Fluorine International Limited, has, at its meeting held today, approved a capital expenditure of ₹450 crores for setting up a new 40,000 tonnes per annum hydrofluoric acid capacity at Dahej.

This is a new capacity for NFASL. Currently, the Company has AHF manufacturing plant with a capacity of approximately 20,000 tonnes per annum at Surat.

The project will be funded through a mix of internal accruals and debt.

The expansion project will cater to the growing demand for fluorochemicals in pharmaceutical, agro-chemical and emerging renewable sectors.

Shares of Navin Fluorine International Limited was last trading in BSE at Rs. 4201.30 as compared to the previous close of Rs. 4118.05. The total number of shares traded during the day was 11437 in over 975 trades.

The stock hit an intraday high of Rs. 4243.40 and intraday low of 4105.05. The net turnover during the day was Rs. 48239963.00.

Source : Equity Bulls

Keywords

NavinFluorineInternational INE048G01026 NavinFluorineAdvancedSciences CapitalExpenditure Dahej HydrofluoricAcid