Kansai Nerolac Paints on Thursday informed the exchanges of an enhancement in the quantum of the proposed capacity expansion at its plant in Goindwal Sahib near Amritsar in Punjab. The proposed capacity expansion has been enhanced from 36,000 kilo litre per annum (klpa) to 52,800 klpa. While the capacity will rise by 47 per cent (in klpa terms), the budgeted cost of the project will climb only 20 per cent. It will now be ₹216.50 crore against the originally proposed ₹180.50 crore, the company statement added. The stock of Kansai Nerolac closed at ₹543.25 against the previous day’s close of ₹542.90 on the NSE.

Power Mech has received a Letter of Intent/Work Order worth ₹192 crore. In a notification to the stock exchanges, the company said the order includes civil works for the Maitree STPP unit - 1&2 of coal, ashlime and gypsum handling plant, including supply of material, labour, tools, and plants, among others, for the 2*660 MW Maitree, Rampa] Project, Bangladesh, to be completed within 20 months from the date of start of work for ₹132 5 crore; erection, testing, installation, pre-commissioning, commissioning and handover of two units of HRSG and all related works at Sabiya Power Plant, Kuwait, for ₹45 crore; and handling at the site, storage yard, stores, transportation to the site, erection, testing, commissioning and handing over of power cycle piping & auxiliaries for 3*660 MW, Barh Project, Bihar, to be completed within 16 months from the date of start of work for ₹14.5 crore. Surrendering almost all the gains, shares of Power Mech closed at ₹873.15 on the NSE against the previous day’s close of ₹870.20, after hitting an intra-day high of ₹909.90.

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