PG Electroplast acquires 50-acre land in Andhra Pradesh; stock gains ~2%

29 Sep 2025 , 02:46 PM

PG Electroplast (PGEL) shares price jumped 1.5% in the opening trade on September 29 after the company announced that its subsidiary PG Technoplast acquired a 50-acre land parcel in Sri City, Andhra Pradesh.

At around 1.34 PM, PG Electroplast was trading 2.92% lower after erasing early morning gains. In the previous session, stock closed at ₹514.65 on NSE. The counter touched an intraday high ₹526.15.

PGEL is planning to invest about ₹1,000 Crore for development of state-of-the-art integrated manufacturing campus in the coming 5 years.

In the first phase, the company will emphasize on a refrigerator plant having an annual capacity of 1.2 Million Units. The company expects to commence commercial production by December 2026, stated the company in its filing with the exchanges.

The company is also equipping the site to accommodate future expansion into air conditioner, washing machines, and other home appliances and electronics, further added the company.

As per the company, it expects to generate over 500 jobs in the region in the first phase and an additional contribution to Andhra Pradesh’s industrial growth and India’s vision of Atmanirbhar Bharat.

Last Month, the company said that its subsidiary Next Generation Manufacturers has signed a Memorandum of Understanding (MoU) with the Maharashtra Government for establishing a ₹1,000 Crore greenfield consumer electronics facility at Kamargaon in Ahilyanagar.

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