Jagan Lamps surges on getting nod for expansion of production capacity
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Jagan Lamps is currently trading at Rs. 88.00, up by 0.86 points or 0.99% from its previous closing of Rs. 87.14 on the BSE.
The scrip opened at Rs. 88.90 and has touched a high and low of Rs. 91.15 and Rs. 87.00 respectively. So far 1595 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 152.99 on 12-Feb-2024 and a 52 week low of Rs. 73.52 on 21-Dec-2023.
Last one week high and low of the scrip stood at Rs. 93.00 and Rs. 85.00 respectively. The current market cap of the company is Rs. 65.62 crore.
The promoters holding in the company stood at 57.78%, while Non-Institutions held 42.22% stake in the company.
Jagan Lamps has received approval for the plan for expansion of production capacity of Halogen Lamps, Xenon Lamps and LED Lamps in view of the high demand and proposed orders which are in line of maturity and for future expansion. Investment required for the said expansion is around Rs 35 crore. The proposed capacity is to be added within 12 months. The Board of Directors of the Company at their meeting held on November 14, 2024 have inter-alia, approved the same.
Jagan Lamps is a leading manufacturer and exporter of Auto Bulbs, Halogen Bulbs, Head Lights, Automotive Electrical Spares and other related products of extremely high quality at competitive prices.
