Goodluck India Ltd board approves capex of Rs. 141 crore

The Board of Directors of Goodluck India Ltd in its meeting held on April 08, 2023 which commenced at 10:30 AM and concluded at 12:10 PM, has considered and approved the proposal to expand the production capacity of CDW and ERW tubes.

The existing capacity of 80000 MT per year is running at 91% capacity utilization. The proposed capacity addition of 39000 MT per year will be implemented at an outlay of Rs. 141 crore within 12 months period. The funding will be done through term loan and equity / internal accruals.

The Company is already approved by and continuously supplying the CDW Tubes/Auto Tubes to all the major automobile players around the Globe. The Management foresees a strong demand of its ERW & CDW Tubes in Indian and overseas market. So to cater the increased demand, the enhancement is required as the plant is already running at maximum production capacity.

Shares of Goodluck India Limited was last trading in BSE at Rs. 420.55 as compared to the previous close of Rs. 423.25. The total number of shares traded during the day was 2915 in over 353 trades.

The stock hit an intraday high of Rs. 424.00 and intraday low of 417.60. The net turnover during the day was Rs. 1226796.00.

Source : Equity Bulls

Keywords

GoodluckIndia INE127I01024 ExpansionProject CDW ERW Tubes