Archit Organosys skyrockets 9% after board approves expansion of production capacity at Bhavnagar plant

The existing capacity of the plant is 12000 MT per annum with a capacity utilization of 60%. The proposed capacity addition is 6000 MT per annum at an investment of Rs500 lacs.

Sep 22, 2021 09:09 IST India Infoline News Service

The Board of Directors of Archit Organosys Limited on Tuesday has approved the proposal to increase the production capacity by 6000 Metric Tonne per annum at the existing Bhavnagar plant.

The existing capacity of the plant is 12000 Metric Tonne (MT) per annum with a capacity utilization of 60%. The proposed capacity addition is 6000 MT per annum to be added 6 to 9 months at an investment of Rs500 lacs.

“There is an increase in demand of one of the products of the company i.e. Monochloro Acetic Acid (MCA) both at domestic and at export level. Also, the make in India drive by Government of India has boosted the demand and it has been surveyed that many peer industries manufacturing MCA has increased their production capacity. Hence, the overall industry is anticipating a growth for this product,” company said in a filing on Tuesday.

The company stock was bullish during early trade on Wednesday and at around 9.38 am, Archit Organosys Ltd was at Rs46.80 per piece up by Rs3.8 or 8.84% from its previous closing of Rs43 on the BSE. The scrip opened at Rs44.90 and has touched a high and low of Rs47 and Rs43.90 respectively.

Related Story

Open Free Demat Account (Rs699)