Ingersoll-Rand shines on plan to make strategic investment of Rs 100 crore in Naroda

12 Sep 2014

Ingersoll-Rand (India) is currently trading at Rs 762.40, up by 68.25 points or 9.83% from its previous closing of Rs 694.15 on the BSE.

The scrip opened at Rs 699.00 and has touched a high and low of Rs 775.55 and Rs 697.60 respectively. So far 130902 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs. 710.30 on 04-Jun-2014 and a 52 week low of Rs. 311.00 on 12-Sep-2013.

Last one week high and low of the scrip stood at Rs. 702.00 and Rs. 659.60 respectively. The current market cap of the company is Rs. 2414.95 crore.

The promoters holding in the company stood at 74.00% while Institutions and Non-Institutions held 7.67% and 18.33% respectively.

Ingersoll-Rand (India) is planning to invest Rs 100 crore to upgrade its manufacturing facility in Naroda, near Ahmedabad in Gujarat. The strategic investment reinforces the company’s overall growth strategy in India that is focused on driving innovation, technology and product development and is a reflection of their long standing commitment to the country. Products and solutions manufactured at the Naroda plant will be distributed across both, Indian as well as global markets.

With this investment, one of the oldest and most significant facilities of Ingersoll Rand globally, will transform into a modern, state-of-the-art facility. The strategic investment at the Naroda plant will support production of the complete range of compressors in Reciprocating, Rotary and Centrifugal ranging from 0.75 to 4500 kW. Technologies for air treatment, filtration solutions, storage solutions, energy saving control solutions, remote monitoring as well as energy saving modular solutions for compressed air that increase the overall efficiency of an entire manufacturing and operating system will be enhanced at this plant. In addition to these, the facility will add new product lines with high level of innovation.

The company manufactures air compressors of various capacities for the domestic and export markets. The company derives revenue from sale of reciprocating, rotary, and centrifugal compressors and spares in the domestic market, and from exports to parent and group companies.

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