Everest Industries inches up on getting nod to set up new manufacturing facility for ESBS in South India
Everest Industries is currently trading at Rs. 744.30, up by 0.55 points or 0.07% from its previous closing of Rs. 743.75 on the BSE.
The scrip opened at Rs. 744.30 and has touched a high and low of Rs. 744.30 and Rs. 744.30 respectively. So far 7 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 974.45 on 09-Nov-2022 and a 52 week low of Rs. 506.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 824.90 and Rs. 740.00 respectively. The current market cap of the company is Rs. 1171.92 crore.
The promoters holding in the company stood at 50.44%, while Institutions and Non-Institutions held 10.30% and 39.26% respectively.
Everest Industries has received approval for Capital expenditure (CAPEX) of Rs 125 crore to set up a new manufacturing facility for Steel Buildings Division (ESBS) through a wholly owned subsidiary or by the Company at Gudipalli, Andhra Pradesh or any other appropriate location in South India, subject to the receipt of requisite approvals. The Board of Directors of the company at their meeting held on February 20, 2023 approved the same.
The said CAPEX would enhance the existing capacity of 72,000 MTPA to 114,000 MTPA for ESBS Division. It is expected that said CAPEX would be operational by March 31, 2024.
Everest Industries (EIL) is one of India’s fastest growing building solutions company. The company provides the world-class building solutions to meet construction requirements, in the Industrial, commercial and residential sectors.
