NOCIL Limited approves capex for capacity expansion

The Board of Directors of NOCIL Limited its meeting held today viz 26th March 2024 has accorded approval for incurring Capital Expenditure not exceeding Rs 250 Cr towards capacity enhancement (Rubber chemicals) at Dahej.

The existing capacity of 115,000 MTA of Rubber Chemicals is operation at around 65% capacity utilization. The proposed capacity addition is about 20% of existing capacity.

The capex will be funded largely through internal accruals.

Shares of NOCIL Limited was last trading in BSE at Rs. 246.50 as compared to the previous close of Rs. 248.80. The total number of shares traded during the day was 48470 in over 1299 trades.

The stock hit an intraday high of Rs. 252.55 and intraday low of 245.20. The net turnover during the day was Rs. 12078684.00.

Source : Equity Bulls

Keywords

NOCIL INE163A01018 CapacityEnhancement Capex RubbeChemicals