CCL Products surges on planning to set up new manufacturing plant in Andhra Pradesh
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CCL Products (India) is currently trading at Rs. 662.70, up by 12.20 points or 1.88% from its previous closing of Rs. 650.50 on the BSE.
The scrip opened at Rs. 656.75 and has touched a high and low of Rs. 665.50 and Rs. 648.45 respectively. So far 10214 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 670.00 on 20-Jun-2023 and a 52 week low of Rs. 375.00 on 01-Jul-2022.
Last one week high and low of the scrip stood at Rs. 669.00 and Rs. 630.60 respectively. The current market cap of the company is Rs. 8847.02 crore.
The promoters holding in the company stood at 46.26%, while Institutions and Non-Institutions held 28.80% and 24.93% respectively.
CCL Products (India) is planning to set up its new manufacturing plant at Continental Coffee Park in Kuvvakolli village in Tirupati district in Andhra Pradesh, with an investment of Rs 400 crore. Coming up on 22 acres, the plant, with an annual capacity of 16,000 metric tonnes, will manufacture spray-dried instant coffee.
The production at the new plant will start in the fourth quarter of the current financial year. The funding for the new plant will be done through internal accruals and partly term loan.
CCL Products (India) is engaged in the production, trading and distribution of coffee.
