Linc Pen and Plastic is trading higher by 4% at Rs 55.50 on reports that the company is planning to set up a manufacturing facility in Gujarat at an investment of Rs 25 crore. It will be funded through internal accruals as well as the funds that the writing instruments maker will receive from Mitsubishi Pencils.
The Kolkata-based firm recently sold 13.5% equity stake to Japan-based Mitsubishi Pencil for Rs 20 crore.
Around 5,200 shares have changed hands on the counter in morning deals on the Bombay Stock Exchange (BSE).
