Laxmi Organic Industries climbs on getting nod to set up new manufacturing site in Gujarat
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Laxmi Organic Industries is currently trading at Rs. 273.70, up by 10.10 points or 3.83% from its previous closing of Rs. 263.60 on the BSE.
The scrip opened at Rs. 261.30 and has touched a high and low of Rs. 274.00 and Rs. 257.30 respectively. So far 128336 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 395.90 on 15-Sep-2022 and a 52 week low of Rs. 220.70 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 274.00 and Rs. 250.05 respectively. The current market cap of the company is Rs. 7193.15 crore.
The promoters holding in the company stood at 72.39%, while Institutions and Non-Institutions held 2.02% and 25.59% respectively.
Laxmi Organic Industries has received approval for capital expenditure of Rs 710 crore for setting up a new manufacturing site at Dahej, Gujarat. The new manufacturing site is expected to come on stream around in 3 years. The company has proposed capacity addition of more than 100,000 tonnes per annum. The project will be funded through a mix of internal accruals, debt and equity. The Board of Directors of the Company, at the Special Strategy Meet held on July 29 and 30, 2023, have approved the same.
Laxmi Organic Industries is a leading manufacturer of acetyl intermediates and specialty intermediates and solvents catering to diverse end-market sectors like pharmaceuticals, agrochemicals, food packaging, pigments and coatings.
