Dabur gains on board nod for capex at North East facility

The board has approved capex of Rs 250 crore for manufacturing unit at Tezpur, Assam

Shares of Dabur were up over 2% at Rs 275 on the Bombay Stock Exchange after the company said that its board with a view to meet the growing demand for products approved capital expenditure of Rs 250 crore for setting up a manufacturing plant at Tezpur, Assam.

The capex will be financed through internal accruals and the plant is likely to commence operations in the year 2017, the company said in a release.

The stock opened at Rs 273 and touched a high of Rs 279. At 12:05pm, over 1.86 million shares were traded on both the stock exchanges.