Sundram Fasteners plans to step up capex;stk up

MUMBAI: Sundram Fasteners will make its biggest capital investment in 2011-12 in an attempt to target the wind energy and automotive segments with new products. SFL plans to step up its capex to nearly Rs 200 crore, a third more than 2010-11, with significant sums allotted for making wind turbine fasteners and bevel gears.

The stock was at Rs 47.80, up 1.59 per cent on the NSE. It touched a high of Rs 48.55 and low of Rs 47.10 in trade so far.