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Lanco Industries surges on getting nod for Rs 325 crore capex plan

30 Jul 2014 Evaluate

Lanco Industries is currently trading at Rs 43.75, up by 2.05 points or 4.92% from its previous closing of Rs 41.70 on the BSE.

The scrip opened at Rs 43.75 and has touched a high and low of Rs 43.75 and Rs 43.75 respectively. So far 7902 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 49.75 on 09-Jun-2014 and a 52 week low of Rs 13.35 on 05-Aug-2013.

Last one week high and low of the scrip stood at Rs 44.95 and Rs 41.30 respectively. The current market cap of the company is Rs. 165.81 crore.

The promoters holding in the company stood at 50.78% while Institutions and Non-Institutions held 0.71% and 48.51% respectively.

Lanco Industries has received an approval for capex plan of Rs 325 crore to set up a Small Dia Pipe (SDP) Plant of 100,000 TPA for sizes ranging 100mm to 300mm dia with increased capacity of Blast Furnace and other facilities. The board of directors at its meeting held on July 28, 2014 has approved for the same.

Lanco Industries is engaged in the manufacturing of DI pipes, foundry and SG-grade pig iron and portland slag cement with DI pipes being the main product.

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