Finolex Cables Ltd to set up a Preform Plant at Urse, Pune

Finolex Cables Ltd will set up a plant at Urse facility, Pune to produce Optical Fibre Preforms as well as expand on its Fibre draw capacity.

The plant with an initial capacity of 100 Tons of Preforms, is being set up at a cost of Rs. 290 Cr approx., and would be funded entirely out of internal accruals. The construction will commence upon receipt of necessary regulatory approvals. The production from this new plant is expected to commence in 15 months approximately from the date of commencement of construction of plant.

The plant's capacity would be scalable and would be expanded at a later date subject to market requirements.

Shares of Finolex Cables Limited was last trading in BSE at Rs. 857.70 as compared to the previous close of Rs. 866.05. The total number of shares traded during the day was 15704 in over 3915 trades.

The stock hit an intraday high of Rs. 875.80 and intraday low of 852.60. The net turnover during the day was Rs. 13642578.00.

Source : Equity Bulls

Keywords

FinolexCables INE235A01022 NewPlant Urse Pune OpticalFibrePreforms