Interarch Building Products zooms on acquiring land in Gujarat
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Interarch Building Products is currently trading at Rs. 1437.00, up by 34.60 points or 2.47% from its previous closing of Rs. 1402.40 on the BSE.
The scrip opened at Rs. 1401.70 and has touched a high and low of Rs. 1444.40 and Rs. 1364.85 respectively. So far 46143 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1457.95 on 27-Sep-2024 and a 52 week low of Rs. 1110.65 on 04-Sep-2024.
Last one week high and low of the scrip stood at Rs. 1457.95 and Rs. 1233.00 respectively. The current market cap of the company is Rs. 2376.50 crore.
The promoters holding in the company stood at 86.67%, while Non-Institutions held 13.33% stake in the company.
Interarch Building Products has acquired 51,926 sq. mts. of land in Gujarat. The land has been procured at an investment of Rs 7 crore. This strategic move is part of the company’s long-term vision to expand its national footprint and meet the increasing demand for high-quality Pre-engineered buildings across the country.
The recently acquired land in Gujarat will boost the company’s utilizable capacity, allowing it to meet the increasing demands of its discerning customers. This strategic investment underscores the company’s commitment to enhancing its supply chain capabilities in Western India while ensuring it remains close to its customers for exceptional service. Moreover, Western India, particularly Gujarat, is emerging as a hub for new-age industries such as semiconductors, data centers, renewable energy etc. Interarch is poised to capitalize on these opportunities. The company has successfully executed several large projects in Gujarat for customers like Asian Paints, Timken, Micron (through Tata Projects Limited), Asahi Glass, MG Motors, and many more.
Interarch Building Products is one of the leading turnkey pre-engineered steel construction solution providers in India with integrated facilities for design and engineering, manufacturing, on-site project management capabilities for the installation and erection of PEB.
