Greenlam Industries rose 1.11% to Rs 910 at 10:45 IST on BSE after the company approved to increase the manufacturing capacity to manufacture additional laminate sheets per annum.
The announcement was made after market hours on Wednesday, 20 March 2019.Meanwhile, the S&P BSE Sensex was down 65.52 points or 0.17% at 38,321.23
On BSE, so far 121 shares were traded in the counter as against average daily volume of 128 shares in the past two weeks. The stock hit a high of Rs 911 and a low of Rs 910 so far during the day.
The board of directors of Greenlam Industries discussed and approved to increase the manufacturing capacity of the company to manufacture additional 1.6 million laminate sheets per annum. The capital cost of this brownfield expansion would be approximately Rs 25 crore. The expanded capacity is expected to be operationalized within a period of 9 months.
Greenlam Industries' net profit rose 14.11% to Rs 19.81 crore on 12.04% rise in total income to Rs 314.68 crore in Q3 December 2018 over Q3 December 2017.
Greenlam Industries is into surface decorative business.
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