Page Industries surges on expansion plan

India Infoline News Service | Mumbai | September 11, 2017 14:01 IST

The share of Page Industries surged nearly 2% during Monday’s trading session on the back of the news that the company is planning to double its production capacity to 400 million pieces per annum in the next three years.

Stock Market Rebounding
The share of Page Industries surged nearly 2% during Monday’s trading session on the back of the news that the company is planning to double its production capacity to 400 million pieces per annum in the next three years.
 
"As the brand expands in the country, we are looking to increase production. We are looking to double capacity from current 200 million pieces by 2020," said Sunder Genomal, Managing Director, Page Industries to a leading news agency. The brand has 17 production units in Karnataka.
 
The company’s standalone revenue for the quarter came in at Rs 696.8 crore, registering 22.5% yoy increase. The PAT for the quarter came in at Rs 85.2 crore, yoy increase of 25.5%.
 
The stock was trading up by 0.96% at Rs 18,742 per share on BSE at 1321 hours. It opened at Rs 18,666 per share. The stock touched its fresh 52-week high at Rs 18,915 per share on Monday. The stock also witnessed a spurt in volume by more than 1.99 times. The stock has attracted total traded volume of 12,394 shares and traded value of Rs 2,330.69 lakh on NSE at 1323 hours. 

***Note: This is a NSE Chart

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