Alicon Castalloy Ltd to set up new plant for GDC, LPDC and Machining

The Board of Directors of Alicon Castalloy Ltd. has decided to set-up a new plant for GDC (Gravity Die Castings), LPDC (Low Pressure Die casting) and Machining with a capital outlay of Rs.1,255 million. For the purpose, the Company has acquired on 10 years' lease ready built industrial premises admeasuring 1,30,000 sq. feet, situated near its existing facilities at Shikrapur, District Pune, Maharashtra, from M/s. Vijay Logistics Ltd.

The entire project cost would be financed by borrowing from banks/ financial institutions and internal accruals. This will enhance manufacturing capacity and support expansion.

Shares of Alicon Castalloy Limited was last trading in BSE at Rs. 669.00 as compared to the previous close of Rs. 680.90. The total number of shares traded during the day was 816 in over 65 trades.

The stock hit an intraday high of Rs. 681.85 and intraday low of 664.90. The net turnover during the day was Rs. 549361.00.

Source : Equity Bulls

Keywords

AliconCastalloy INE062D01024 Capex NewPlant GDC LPDC Machining