The board of directors of Lanco Industries on Monday approved capex plan of ₹325 crore to set up a small dia pipe (SDP) plant of 1,00,000 TPA for sizes ranging 100mm to 300mm dia with increased capacity of blast furnace and other facilities. The board has also approved the change of name of the company from Lanco Industries to Srikalahasti Pipes Ltd, which is subject to shareholders’ approval in the general meeting and other statutory approvals. Shares of Lanco Industries moved up 0.12 per cent at ₹41.70.

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