Kabra Extrusion surges 16% on Rs 100 crore capex plan for its battery unit

The company's board has also approved a proposal to raise up to Rs 301 crore for the expansion of its future technologies brand Battrixx

Shares of Kabra Extrusion Technik hit a new all-time high of Rs 412.70, as they rallied 16 per cent on the BSE in Monday’s intra-day trade after the company announced capital expenditure (capex) plan of up to Rs 100 crore for expansion of battery division. The company’s board also approved a proposal to raise up to Rs 301 crore for the expansion of its future technologies brand Battrixx.

The stock of Kabra Extrusion has outperformed the market by surging 65 per cent, as compared to a 5 per cent decline in the S&P BSE Sensex, in past three months.