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Krishna Ventures approves expansion projects; Stock declines 5%

The Company had participated in a Tender from Ordinance Factory Medak Hyderabad for Turret Pneumatic Equipment.

September 14, 2022 10:48 IST | India Infoline News Service
The Board of Directors of Krishna Ventures Limited at its meeting held on Tuesday, September 13, 2022 at 3:00 PM, has discussed, considered and approved the expansion projects.

The board has approved Total Capex, on establishing its Plant of HVAC and Sheet Metal at Plot No. 57, Ecotech XII, Greater Noida that is excepted to commence the commercial production from third quarter of 2022, which is estimated to Rs10 crore in First Phase and will be financed partly through internal sources/ Debt.

The Company had participated in a Tender from Ordinance Factory Medak Hyderabad for Turret Pneumatic Equipment and has technically qualified as the lowest financial bidder.

This is the Trial order and the total annual revenue expected will be approx Rs30 crore from the HVAC/Sheet Metal Business, the company said.

At around10:47 AM, Krishna Ventures Ltd is currently trading at Rs70.45 per share down by Rs3.7 or 4.99% from its previous closing of Rs74.15 per share on the BSE.

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