Ingersoll Rand (India) has rallied 9% to Rs 423 in noon deals after the company inaugurated its greenfield manufacturing facility at the Mahindra World City, Chennai, yesterday.
The Chennai facility reinforces Ingersoll Rand's overall growth strategy to drive innovation, technology and product development specifically catering to markets such as industrial efficiency, transportation, food security, environmental control in buildings and energy management, the company said in a release.
The facility will make a wide range of equipment, including bus and truck air-conditioners and commercial heating, ventilation and air-conditioning products. The delivery of products manufactured and distributed from the site will begin in May, it added.
The stock opened at Rs 395 and touched high of Rs 425 on NSE. A combined 24,593 shares have changed hands on the counter till 1321 hours on NSE and BSE.
The Chennai facility reinforces Ingersoll Rand's overall growth strategy to drive innovation, technology and product development specifically catering to markets such as industrial efficiency, transportation, food security, environmental control in buildings and energy management, the company said in a release.
The facility will make a wide range of equipment, including bus and truck air-conditioners and commercial heating, ventilation and air-conditioning products. The delivery of products manufactured and distributed from the site will begin in May, it added.
The stock opened at Rs 395 and touched high of Rs 425 on NSE. A combined 24,593 shares have changed hands on the counter till 1321 hours on NSE and BSE.