India Schneider Electric jumps to over 5-1/2 year high on expansion plans

Schneider Electric Infrastructure

08/09/2022 07:39

** Shares of Schneider Electric Infrastructure Ltd 
 SEIN.NS  jump 15.5% to 165 rupees, their highest since Nov. 3,
2016
    ** The Indian heavy equipment maker on Wednesday said that
it would enhance production capacity for vacuum interrupters and
vacuum circuit breakers by setting up a manufacturing facility
in Kolkata  urn:newsml:reuters.com:*:nFWN30E0VE
    **Says requires 1.38 bln rupees ($17.31 mln) investment in
facility over three years 
    **Adds, facility would expand capacity to 180,000 MV from
existing 80,0000 MV (https://bityl.co/EGRE)
    ** More than 6.8 mln shares change hands by 0553 GMT, 6.6x
30-day avg of over 1 mln shares
    ** Stock up 35% so far this year, as of last close



($1 = 79.7250 Indian rupees)

 (Reporting by Atreya Raghavan in Bengaluru)
 ((Atreya.Raghavan@thomsonreuters.com; Mobile: +91 8527959656))