Akzo Nobel shines on commencing commercial production of powder coating products at Gwalior plant
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Akzo Nobel India is currently trading at Rs. 3798.15, up by 111.35 points or 3.02% from its previous closing of Rs. 3686.80 on the BSE.
The scrip opened at Rs. 3687.20 and has touched a high and low of Rs. 3823.95 and Rs. 3687.20 respectively. So far 3232 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3823.95 on 06-Sep-2024 and a 52 week low of Rs. 2265.10 on 13-Mar-2024.
Last one week high and low of the scrip stood at Rs. 3823.95 and Rs. 3406.95 respectively. The current market cap of the company is Rs. 17201.94 crore.
The promoters holding in the company stood at 74.76%, while Institutions and Non-Institutions held 11.90% and 13.33% respectively.
Akzo Nobel India has commenced the commercial production of the powder coating products from its plant at Gwalior, Madhya Pradesh, India (Gwalior plant) on September 5, 2024 with an installed production capacity of 5166 T per annum (original installed production capacity) which can be expanded basis future demand. Further, this commercial production is aimed at supporting capacity expansion considering the service level need of the powder coating market demand of the company mainly in North and Eastern India. An amount of around Rs 105 crore is the investment of the company towards the aforesaid, and the same has been funded through internal accruals.
The company is engaged in the business of manufacturing, trading and selling of paints and related products. The Company also provides research and development services to the holding company and its group companies.
