Modi Rubber Ltd Share Price

Summary

Incorporated in Feb.71, Modi Rubber (MRL), a B K Modi Group Company, manufactures automobile tyres. It has entered into a technical collaboration with the German tyre major, Continental Aktiengesellschaft, to manufacture steel radial tyres for trucks. The company has a state-of-the-art plant at Modipuram, which is one of the most modern tyre manufacturing plants in Asia. The Company was earlier engaged in manufacture of automotive tyres, tubes, flaps and other allied products in its plants set-up in 1974 at Modipuram, Meerut and Modinagar. Pursuant to the BIFR Scheme, Modinagar Plant was with the Company for carrying out its industrial activities. However, Modinagar Plant of the Company was under the Seal of Official Liquidator (OL) attached to the Allahabad High Court appointed by Allahabad High Court in Punjab National Bank Vs Modi Export Processors Ltd, as the Company had taken Industrial Shed and land on perpetual lease from Modi Export Processors Ltd, on which Company installed its Plant & Machinery for Modinagar Plant. The Company filed Special Appeal with Allahabad High Court for re-possession from the OL which was pending for final adjudication before the Honble High Court. Further, the Company implemented provisions of BIFR Scheme.The company has a 12.4% market share and is doing well on the export front. It has also won the CAPEXIL export award for its excellent export performance. MRL exports to countries like Vietnam, the Philippines, Singapore, the US, the UK, Ba
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