Lumax Industries receives approval to set up new manufacturing facility in Gujarat
Description: The project will cater to the new orders received from OEM customers for advance lighting solutions and is expected to be commissioned by Q1 of FY2024-25.
Category: stocks
About the project
Lumax Industries has received approval for setting up new manufacturing facility at Sanand (Plant-3), Gujarat. This project will cater to the new orders received from OEM customers for advance lighting solutions. The project is expected to be commissioned by Q1 of FY2024-25.
The company has also received approval for expansion of Chakan Plant (Phase-II) at Pune. This project will cater to the new orders received from OEM customers for advance lighting solutions and this Project is expected to be commissioned by Q3 of FY2024- 25. The Board of Directors of the company, at their Meeting held March 12, 2024, has approved the same.
Company profile
incorporated in 1981, Lumax Industries offers a range of Automobile Lighting Systems and solutions for four-wheeler, two-wheeler, trucks, buses, earth-movers, tractors and a variety of diverse applications. It is engaged in the business of manufacturing and supplying of Automotive Lamps, Plastic Moulded Parts, and Frame Chassis to two, three, and four-wheeler segments. It has Partnerships with 7 Global players like Yokowo(Japan), JOPP(Germany), and few others.
Stock price movement
On Tuesday, Lumax Industries shares closed at Rs 2209.40, down by 2.11% from its previous closing of Rs 2257.00 on the BSE.
Today, the stock opened at Rs 2250.25 and has touched a high and low of Rs 2303.95 and Rs 2191.95 respectively. The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high and low of Rs 2,815.45 and Rs 1645.00, respectively.Last one week high and low of the scrip stood at Rs. 2359.75 and Rs. 2191.95 respectively. The current market cap of the company is Rs 2,065.29 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 2.54% and 22.46% respectively.
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