OMAX Autos approves building new industrial unit in Uttar Pradesh

The proposed capacity is to be added within 3 years at an investment of ~Rs165cr, the company said in the BSE filing.

Dec 04, 2018 03:12 IST India Infoline News Service

OMAX Auto
OMAX Autos said in the filing that its board has approved the proposal for setting up a new industrial unit for manufacture and supply of 'Long Member' at or around Raibarelli in Uttar Pradesh.

The proposed capacity is to be added within 3 years at an investment of ~Rs165cr, the company said in the BSE filing.

Further, 50% of the investment would be funded through Equity and remaining 50% through external borrowings, the company added.

On Monday, shares of Omax Autos Ltd ended up 1.05% at Rs77.05 from its previous closing of Rs76.25 on the BSE.

The scrip opened at Rs75.10 and touched a high and low of Rs79.25 and Rs75.10 respectively. A total of 824 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs164.81cr.

The BSE group 'B' stock of face value Rs10 touched a 52 week high of Rs215.90 on 29-Jan-2018 and a 52 week low of Rs67.70 on 05-Dec-2017. Last one week high and low of the scrip stood at Rs82 and Rs74.10 respectively.

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