India's Laxmi Organic Industries climbs on capex plan

Laxmi Organic Industries

31/07/2023 08:53

** Shares of Laxmi Organic Industries  LAXR.NS  rise as much
as 4% to 274.2 rupees, highest since June 7
    ** Specialty chemicals maker says it has approved 7.10 bln
rupees ($86.3 mln) capex plan for new manufacturing site at
Dahej, Gujarat, with above 100,000 tonnes per annum capacity
addition
    ** On Friday LAXR reported a 40.5% fall in June-qtr profit,
hurt by revenue fall 
    ** Trading volume at ~3.1 mln shares, 6.2x the 30-day avg of
~501,700 shares as of 1:00 p.m. IST 
    ** Stock last down 8.5~% YTD 



($1 = 82.2525 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))