Financial Daily from THE HINDU group of publications
Tuesday, Nov 22, 2005
Financial Daily from THE HINDU group of publications Tuesday, Nov 22, 2005 |
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Markets
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Rights Issue NCL Industries files for rights issue Our Bureau
Hyderabad , Nov. 21 NCL Industries Ltd has announced that it has filed the draft letter of offer with the Securities and Exchange Board of India for the proposed rights issue of Rs 23.53 crore. The rights issue is to part finance the growth plans estimated at Rs 68.22 crore. Aimed at expanding its market penetration into the northern States and to expand its prefabrication activity, the company is setting up a 50,000 tonnes per annum cement bonded wood particle boards facility at Ponta Sahib in Himachal Pradesh. The company is also planning to set up a 3.15-lakh tonnes per annum capacity cement grinding unit at Kondapally near Vijayawada. NCL has also taken up an expansion for enhancing the clinker capacity from the existing 2.97 lakh tonnes per annum to 5.94 lakh tonnes per annum at Mettapalli here as an energy efficiency and conservation project, the release said.
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