Navin Fluorine shares jump over 6%, hit fresh 52-week high

Navin-Fluorine

Navin Fluorine share price jumped more than 6 percent to a 52-week high of Rs 1,083.95 on BSE on January 8.

The company got traction following the announcement that after current good manufacturing practice (cGMP) capacity addition, its Dewas plant in Madhya Pradesh had commenced commercial production from January 6.

The Dewas facility is the hub of the firm’s CRAMS activities.

In December, the company had announced a Rs 450-crore investment in a new project in Gujarat’s Dahej.

The company was planning a capex programme at Dahej through a wholly-owned subsidiary with an estimated aggregate capital outlay of more than Rs 450 crore over the next three-four years, it told BSE.

At a meeting on December 12, the board approved a capital expenditure of around Rs 90 crore for site development and infrastructure for greenfield projects at Dahej through a wholly-owned subsidiary, to be incorporated.

Shares of Navin Fluorine International were trading 2.96 percent higher at Rs 1,052 on BSE at 0940 hours.

News Source:- Moneycontrol

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