Banco Products India Ltd.’s shares were up by 1.09 per cent after its wholly-owned subsidiary, Nederlandse Radiateuren Fabriek B.V. (NRF), announced opening of a new facility in Valencia, Spain. 

The 12,700 square meter warehouse is following the inauguration of a 30,000 square meter facility in Poland earlier this year. The expansion in Spain, doubling the warehouse space from 6,400 to 12,700 square meters, is NRF’s commitment to meeting the escalating demands of customers in both the Iberian and overseas markets.

This increased space will enable NRF Spain to optimize inventory management, streamline order processing, and elevate service levels for their partners. Additionally, the new location will serve as a hub for local and international customer meetings. The relocation is slated for completion by February 1, 2024.

The shares were up by 1.09 per cent to ₹504 at 10.20 a.m. on the BSE.