India's Aeroflex Industries up on capacity expansion plans

Aeroflex Industries

21/03/2024 08:27

** Shares of Aeroflex Industries  AERO.NS  up 2.2%, paring
some gains after rising as much as 3.7% to hit day's high of 130
rupees
    ** Indian metallic tube and hose maker says installed
capacity rose to 13.5 million meters per annum; Phase II
expansion completed
    ** Phase II expansion to increase capacity to 16.5 million
meters per annum; expected by Dec with investment worth upto 390
million rupees (nearly $5 million)
    ** Stock trading below its 50- and 200-day moving averages
since early Feb
    ** More than 337,000 shares change hands, 0.8x the 30-day
avg 
    ** Stock down 21.5% since listing in Aug 2023



($1 = 83.1161 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))