Shares of Asian Paints Ltd are in information right now after the paints maker stated that the unique put in manufacturing capability of the Khandala plant has been raised to 4,00,000 KL each year with a view to meet the medium-term capability necessities of the corporate. The plant was arrange with an put in manufacturing capability of three,00,000 KL each year (authentic put in manufacturing capability).
Asian Paints inventory ended 0.28% decrease at Rs 3088.95 within the earlier session on BSE. Total 0.53 lakh shares of Asian Paints modified fingers amounting to a turnover of Rs 16.21. Market cap of Asian Paints stood at Rs 2.96 lakh crore . Asian Paints shares have a one-year beta of 0.2, indicating very low volatility in the course of the interval.
In phrases of technicals, the relative energy index (RSI) of Asian Paints stands at 51.1, signaling it is buying and selling neither within the overbought nor within the oversold zone. Asian Paints inventory stands increased than the ten, day, 20 day, 30 day and 200 day however decrease than the 5 day, 50 day, 100 day and 150 day transferring averages.
The paint maker has spent Rs 385 crore (approx.) for elevating the put in capability, which has been funded via inside accruals. The firm has acquired needed approval from the Maharashtra Pollution Control Board, Mumbai.
“The firm had arrange a paint manufacturing plant at Khandala, Satara, Maharashtra (Khandala plant) with an put in manufacturing capability of three,00,000 KL each year (authentic put in manufacturing capability) and an ultimate manufacturing capability of 4,00,000 KL each year. The present capability utilisation of the Khandala plant is at round 80% of the unique put in manufacturing capability. This is to tell you that the unique put in manufacturing capability of the Khandala plant has been elevated to 4,00,000 KL each year with a view to meet the medium-term capability necessities of the Company. An quantity of Rs. 385 crore (approx.) has been invested by the Company in direction of the above enhance in put in capability and the identical has been funded via inside accruals. The intimation is being submitted right now being the primary working day after receipt of the mandatory approval from the Maharashtra Pollution Control Board, Mumbai,” stated Asian Paints.
The firm reported a 53.31 % rise in consolidated web revenue to Rs 1,232.39 crore in Q2 towards Rs 803.83 crore within the year-ago interval. Sequentially, revenue slipped 21.74 %. The agency logged a consolidated income of Rs 8,478.57 crore within the September quarter towards Rs 8,457.57 crore within the year-ago interval. Revenue declined 7.66 % from the June quarter.
Also learn: Stock suggestions for November 15 2023: Tata Power, BHEL, Manappuram Finance, Union Bank and Oil India
Also learn: RIL, ICICI Bank, Infosys, HDFC Bank shares to see outflows on MSCI weightage cuts
