India's Amic Forging rises after plan to establish new facility

Amic Forging

19/03/2025 07:15

** Shares of Amic Forging AMIR.BO rise 7.6% to 1,109.70 rupees

** Co to establish ammunition manufacturing facility primarily to make cartridges

** To invest 600 mln rupees ($6.9 mln) for construction of new facility, 250 mln rupees to buy machinery, and 25 mln rupee for land

** New facility projected to increase production capacity by 1,000 tons per month and is expected to start production from June 1

** Stock set to gain for third straight session

** AMIR down ~18% YTD

($1 = 86.5160 Indian rupees)

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))