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Greenlam Industries on Monday informed the exchanges that it has commenced commercial production of the expanded capacity of laminates at Nalagarh, Himachal Pradesh, to manufacture an additional 2 million laminates sheets per annum. With this expansion, the installed capacity for laminates has risen to 1.402 crore laminate sheets per annum. The expansion has the potential to generate revenue of ₹120 crore annually on full capacity utilisation, said the company in the notification. Shares of Greenlam on the BSE closed at ₹848.10, with a gain of 3.52 per cent over the previous day’s close.
Prakash Steelage has received a fresh notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 from its Lead Bank, Vijaya Bank. The bank had on May 18 withdrawn a similar notice, which it had filed against the company on January 18. Shares of Prakash Steelage slumped 5 per cent at ₹0.95 on the NSE.
Manugraph India has informed the exchanges that Manugraph Americas Inc., US, its wholly owned subsidiary, has filed a voluntary Chapter 11 (Bankruptcy Protection Petition) of the United States Code with the United States Bankruptcy Court on June 1. The move is to reorganise its business, the company said in the notification. Shares of Manugraph India edged up 3.5 per cent at ₹52.15 on the NSE.
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