Shares of Ram Ratna Wires Limited gained almost 2 percent on June 19 morning after the company said it has been allotted lands to set up a factory in Rajasthan.
“Ram Ratna Wires Limited has been allotted industrial land, admeasuring 39,680 square metres at Industrial Area, Salarpur, Bhiwadi, Distt. – Alwar, Rajasthan, on long term lease for 99 years by Rajasthan State Industrial Development & Investment Corporation Limited (RIICO),” the company told.
Ram Ratna Wires, which took possession of the land on June 16, will invest approximately Rs 200 crore over a period of five years.
At 9.45 am, the stock was trading at Rs 283,30 on BSE, up 1.56 percent.
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The company also said its joint venture subsidiary, Epavo Electricals Private Limited, has been allotted 20,000 square metres parcel for a manufacturing unit in the same industrial area. The company has taken possession of that land as well.
The board of directors in March 2023 approved the new facility for a new line of business for production of printed circuit board (PCB), PCB laminates and copper and copper alloy - foil, bus bars and related products.
The Rs 1200-crore company is thinly tracked by analysts.
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