PG Electroplast (PGEL) shares price gained 1.5 percent in the opening trade on September 29 after its subsidiary PG Technoplast acquired a 50-acre land parcel in Sri City, Andhra Pradesh.
At 09:20am, PG Electroplast was quoting at Rs 521.90, up Rs 7.40, or 1.44 percent, on the BSE.
PGEL plans to invest around Rs 1,000 crore in developing state-of-the-art integrated manufacturing campus over the next 5 years.
The first phase will focus on a refrigerator plant with an annual capacity of 1.2 million units, with commercial production expected by December 2026, company said.
The site is also being designed to accommodate future expansion into air conditioners, washing machines, and other home appliances and electronics, it added.
The facility is expected to generate over 500 jobs in the region in the first phase and further contribute to Andhra Pradesh’s industrial growth and India’s vision of Atmanirbhar Bharat.
“This is an emotional and proud milestone for the PG Group. Sri City marks our very first step into South India and also our largest land acquisition so far. It reflects our deep commitment to building for the long term, not just for our customers but also for the communities we will engage with. The facility’s scale, its proximity to the port, and its potential for exports make this a transformative chapter in our journey," said Vikas Gupta, Managing Director – Operations.
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Last months, company's subsidiary, Next Generation Manufacturers, entered into a Memorandum of Understanding (MoU) with the Government of Maharashtra for setting up a Rs 1,000 crore greenfield consumer electronics facility at Kamargaon in Ahilyanagar.
In the last 3-month, the company share price declined 31 percent.
In the previous trading session, the share closed at Rs 514.50, down Rs 25.25, or 4.68 percent.
The share touched a 52-week high of Rs 1,054.95 and a 52-week low of Rs 471.15 on 06 January, 2025 and 14 August, 2025, respectively.
Currently, the stock is trading 50.53 percent below its 52-week high and 10.77 percent above its 52-week low.
The market capitalisation of the company stands at Rs 14,825.91 crore.
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