Lumax rises on approving new greenfield project in Pune

Lumax Industries

08/12/2022 04:21

** Shares of auto-components maker Lumax Industries Ltd
 HIKA.NS  climb 5.55% to 1,955 rupees, their biggest intraday
gain in over two weeks
    ** Co Tuesday approved setting up a new greenfield project
in Pune with a capital outlay of 1.75 billion rupees (for Phase
I)  urn:newsml:reuters.com:*:nFWN32X0TE
    ** The project will cater to new orders received from
original equipment manufacturers (OEMs) for advanced lighting
solutions
    ** The project is expected to be commissioned by Q4 FY2024
    ** About 42,265 shares changed hands as of 09:45 a.m. IST,
1.4x the 30-day avg
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))