Akzo Nobel India Ltd commences commercial production of powder coating product at Gwalior

Akzo Nobel India Limited has commenced the commercial production of the powder coating products from its plant at Gwalior, Madhya Pradesh, India ("Gwalior plant") today (i.e. 5th September 2024) with an installed production capacity of 5166 T per annum (original installed production capacity) which can be expanded basis future demand.

Further, this commercial production is aimed at supporting capacity expansion considering the service level need of the powder coating market demand of the Company mainly in North and Eastern India. An amount of Rs. 105 crores (approx.) is the Investment of the Company towards the aforesaid, and the same has been funded through internal accruals.

Shares of Akzo Nobel India Limited was last trading in BSE at Rs. 3686.80 as compared to the previous close of Rs. 3563.40. The total number of shares traded during the day was 6775 in over 1936 trades.

The stock hit an intraday high of Rs. 3757.80 and intraday low of 3553.00. The net turnover during the day was Rs. 25099919.00.

Source : Equity Bulls

Keywords

AkzoNobelIndia INE133A01011 CommercialProduction PowerCoatingProduct Gwalior