Shares of Interarch Building Solutions Ltd. rose close to 1.5% on Thursday as the company announced a new manufacturing facility, reinforcing the company's commitment to the industrial growth of the country.
The stock was trading at Rs 1,814.2 apiece, gaining over 25 points on the NSE, after closing at Rs 1,789 in the previous session.
Investors are anticipating robust business growth as the leading pre-engineered building (PEB) manufacturer adds 40,000 MT of annual manufacturing capacity.
Interarch Building Solutions Share Price
New Facility Strengthening Pan-India Manufacturing Network
Interarch Building commenced operations at its state-of-the-art manufacturing facility at Kheda, Gujarat. The facility, spread across 12 acres, has an annual installed capacity of 40,000 MT.
Phase I of the facility was inaugurated today, which adds 20,000 MT of manufacturing capacity per annum. The plant is expected to deliver superior quality goods within a short span of time. Phase II will add the remaining 20,000 MT capacity.
The company also stated, “ The facility is expected to generate more than 400 direct and indirect jobs, contributing significantly to Gujarat's industrial and economic development.”
Share Price Movement
The stock has declined over 5% during the past week while the benchmark index against a 0.5% drop in the Nifty 50 index.
However, during the past month, it gained over 5% while Nifty 50 gained 3.47%.
The stock has been down over a year now, losing around 19.8%, when Nifty 50 declined by 5.6%.
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