Ram Ratna Wires Limited board approves capex

The Board of Directors of Ram Ratna Wires Limited ("the Company") at their meeting held today, i.e., on Thursday, 30th March, 2023 has, approved the setting up of new manufacturing facility / plant at Salarpur Industrial Area, Bhiwadi, Distt - Alwar, Rajasthan for new line of business for production of ; i). Printed Circuit Board (PCB); ii) PCB Laminates and iii). Copper and Copper Alloy - Foil, Bus Bars and related products.

The investment for the above project will be approximately Rs. 200 Crores over a period of 5 (five) years or such other amount as may be amended by the Board of Directors from time to time.

With the growing demand for electronic goods and considering that PCBs and related products are used in most of the electronic products, and with the initiative and encouragement of the Government of India through various incentive schemes, the Company would like to avail the benefits arising from the growing demands of the proposed new products and it will also help as an import substitute.

Shares of RAM RATNA WIRES LTD. was last trading in BSE at Rs. 159.30 as compared to the previous close of Rs. 160.00. The total number of shares traded during the day was 3380 in over 153 trades.

The stock hit an intraday high of Rs. 161.15 and intraday low of 158.00. The net turnover during the day was Rs. 538319.00.

Source : Equity Bulls

Keywords

RAMRATNAWIRES INE207E01023 NewManufacturingFacility PCB PCBLaminates Copper CopperAlloy Capex