Lumax Industries surges on getting nod to set up new manufacturing facility in Gujarat
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Lumax Industries is currently trading at Rs. 2273.55, up by 16.55 points or 0.73% from its previous closing of Rs. 2257.00 on the BSE.
The scrip opened at Rs. 2250.25 and has touched a high and low of Rs. 2303.95 and Rs. 2191.95 respectively. So far 501 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2815.45 on 09-Jan-2024 and a 52 week low of Rs. 1645.00 on 14-Mar-2023.
Last one week high and low of the scrip stood at Rs. 2359.75 and Rs. 2191.95 respectively. The current market cap of the company is Rs. 2081.83 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 2.54% and 22.46% respectively.
Lumax Industries has received approval for setting up New Manufacturing Facility at Sanand (Plant-3), Gujarat. This project will cater to the new orders received from OEM customers for advance lighting solutions. The Project is expected to be commissioned by Q1 of FY2024-25.
The company has also received approval for expansion of Chakan Plant (Phase-II) at Pune. This project will cater to the new orders received from OEM customers for advance lighting solutions and this Project is expected to be commissioned by Q3 of FY2024- 25. The Board of Directors of the company, at their Meeting held March 12, 2024, has approved the same.
Lumax Industries offers a range of Automobile Lighting Systems and Solutions for Four Wheeler, Two Wheeler, Trucks, Buses, Earth-movers, Tractors and a variety of diverse applications.
