GoodluckIndia soars on inaugurating hydraulic tubes manufacturing plant
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Goodluck India is currently trading at Rs. 1294.00, up by 62.60 points or 5.08% from its previous closing of Rs. 1231.40 on the BSE.
The scrip opened at Rs. 1232.85 and has touched a high and low of Rs. 1305.90 and Rs. 1232.85 respectively. So far 47371 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1305.90 on 16-Sep-2024 and a 52 week low of Rs. 578.00 on 15-Sep-2023.
Last one week high and low of the scrip stood at Rs. 1305.90 and Rs. 1181.25 respectively. The current market cap of the company is Rs. 4236.36 crore.
The promoters holding in the company stood at 55.78%, while Institutions and Non-Institutions held 5.75% and 38.47% respectively.
Goodluck India has inaugurated its hydraulic tubes manufacturing plant on September 15, 2024 having an installed capacity of 50,000 MT at Bulandshahr in Sikandrabad at an estimated investment of over Rs 200 crore. The highly specialised hydraulic tubes, which will find applications in construction machinery, light commercial vehicles and other industrial equipments, will act as a replacement for seamless tubes and help substitute imports.
The 50,000 MT state-of-art hydraulic tubes manufacturing plant at Bulandshahr in Sikandrabad will commence commercial production in January next year. Hydraulic tubes, being a very specialised and niche product, will command a premium and help shore up the company’s margins. The company is also looking to export nearly 40 per cent of its total production from the plant in markets such as US and Europe where there is a good demand.
Goodluck India is certified manufacturer and exporter of a precision engineered range of Cold Drawn Welded Tubes & Precision Tubes.
