Arshiya International gains on investment plans

MUMBAI: Shares of Arshiya International moved higher after the company announced plans to invest Rs 7,500 crore over three years on warehousing, distriparks and railway infrastructure.

Arshiya International plans to invest Rs 7,500 crore over three years on warehousing, distriparks and railway infrastructure. The company has done the financial closure of the first phase of the project, entailing an investment of Rs 3,000 crore, which will be completed by 2012.

At 11:37 am, the stock was at Rs 295, up Rs 2.70 or 0.92 per cent on the NSE. It touched a high of Rs 306 and low of Rs 292.10 in trade so far. Around 42.79 thousand shares were traded in the counter.