Stylam lndustries stock zooms 6% on commencement of expansion to increase capacity by 40%

21 Jul 2022 , 12:48 PM

Stylam Industries Limited has announced to the stock exchanges that the company has reached about 80% capacity utilization in the laminates business.

Further, Stylam Industries has now started modular expansion at the existing facilities that will further increase the capacity by 40% and the expansion shall entail a total investment of Rs40 crore, the company said on Wednesday.

The Board of the Company has also reviewed the progress made on plywood project and decided to put the same on hold and prioritize the laminates capacity expansion.

At around 12:50 PM, Stylam Industries was trading at Rs1,111.15 per share up by Rs62.5 or 5.96% from its previous closing of Rs1,048.65 per share on the BSE.