Moneycontrol
Get App
Last Updated : Dec 04, 2018 03:19 PM IST | Source: Moneycontrol.com

Omax Autos climbs 5% as co to set up industrial unit in Uttar Pradesh

The investment required for this unit is approximately Rs 165 crore, Omax Autos said, adding 50 percent would be funded through equity and remaining 50 percent through external borrowings.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Omax Autos shares rallied 5 percent intraday Tuesday as the company is going to set up new industrial unit in Uttar Pradesh.

The automotive component manufacturer informed exchanges that the board of directors on Monday approved the proposal for setting up a new industrial unit at or around Raibarelli, Uttar Pradesh.

The company will manufacture long member in the new industrial unit and proposed capacity addition of 1.44 lakh long member within three years.

Close

The investment required for this unit is approximately Rs 165 crore, Omax Autos said, adding 50 percent would be funded through equity and remaining 50 percent through external borrowings.

At 15:03 hours IST, the stock was quoting at Rs 78.50, up Rs 1.45, or 1.88 percent on the BSE.

Subscribe to Moneycontrol Pro's Annual plan for Rs 399/- for the first year. Use coupon PRO2020 (Available on Web & Android only).

First Published on Dec 4, 2018 03:19 pm
Sections
Follow us on