DCM Shriram gains on expansion plans
The company announced an interim dividend of Rs 3.40, or 170 per cent of the face value, at its board meet on Friday.
By ETMarkets.com | Updated:
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NEW DELHI: DCM Shriram ended higher on Monday after the company said it plans to expand its chemical business and is studying the possibility of stepping up Chlor-Alkali capacity.
The company, meanwhile, announced an interim dividend of Rs 3.40, or 170 per cent of the face value, at its board meet on Friday.
The stock rose 0.67 per cent to hit a high of Rs 574.50 on the BSE.
"The chemical business has provided growth and stability to the group and it will continue to be a key pillar of our overall growth ambitions in coming years," the company said.
"We are in the process of executing approximately 500 tonnes per day Chlor-Alkali capacity, including the 186 tonnes per day expansion approved at an investment of Rs 113 crore. The commissioning of these capacities is expected to be completed in multiple phases by April 2019," the company said.
The company, meanwhile, announced an interim dividend of Rs 3.40, or 170 per cent of the face value, at its board meet on Friday.
The stock rose 0.67 per cent to hit a high of Rs 574.50 on the BSE.
"The chemical business has provided growth and stability to the group and it will continue to be a key pillar of our overall growth ambitions in coming years," the company said.
"We are in the process of executing approximately 500 tonnes per day Chlor-Alkali capacity, including the 186 tonnes per day expansion approved at an investment of Rs 113 crore. The commissioning of these capacities is expected to be completed in multiple phases by April 2019," the company said.
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