Dee Development trades jubilantly on getting nod to set up new manufacturing plant in Gujarat
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Dee Development is currently trading at Rs. 303.10, up by 43.45 points or 16.73% from its previous closing of Rs. 259.65 on the BSE.
The scrip opened at Rs. 290.00 and has touched a high and low of Rs. 307.85 and Rs. 281.55 respectively. So far 105548 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 400.00 on 05-Jul-2024 and a 52 week low of Rs. 226.00 on 25-Oct-2024.
Last one week high and low of the scrip stood at Rs. 307.85 and Rs. 258.05 respectively. The current market cap of the company is Rs. 2030.19 crore.
The promoters holding in the company stood at 70.17%, while Institutions and Non-Institutions held 18.40% and 11.43% respectively.
Dee Development Engineers has received approval for the proposal to set up a new manufacturing plant at Village Lakhapar, Anjar, Kutch, Gujarat, India for manufacturing of Seamless Pipes. Capacity will be increased 7,000 Tonnage. The Product will be used for internal consumption as well as for sale to customers. This transaction will help the company to expand its product offerings. Estimated amount to be invested is Rs 90 crore. The Board of Directors of the company at its meeting held on November 11, 2024, has approved the same.
Dee Development Engineers is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing.
