Diversified conglomerate Lanco Industries surged nearly 9 percent intraday on Friday as the company is going to invest Rs 125 crore in cement plant project.
In a release sent to exchanges, Lanco said the board of directors have approved the project of mini cement plant of 3,00,000 tonne per annum with Rotary Kiln at an estimated capital outlay of Rs 125 crore in place of existing Vertical Shaft Kiln.At 13:49 hours IST, the stock rose 2.82 percent to Rs 27.30 amid large volumes.
Trading volumes increased quite significantly to 140,454 shares as compared to its five day average of 9,465 shares. Market capitalisation of the company currently stands at Rs 108.55 crore.
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