Ram Ratna Wires gains on getting possession of land to set up factory

The company joint venture subsidiary, Epavo Electricals Private Limited, too, has been allotted 20,000 square metres parcel for a manufacturing unit in Rajasthan’s Alwar district

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Shares of Ram Ratna Wires Limited gained almost 2 percent on June 19 morning after the company said it has been allotted lands to set up a factory in Rajasthan.

“Ram Ratna Wires Limited has been allotted industrial land, admeasuring 39,680 square metres at Industrial Area, Salarpur, Bhiwadi, Distt. – Alwar, Rajasthan, on long term lease for 99 years by Rajasthan State Industrial Development & Investment Corporation Limited (RIICO),” the company told.

Ram Ratna Wires, which took possession of the land on June 16, will invest approximately Rs 200 crore over a period of five years.

At 9.45 am, the stock was trading at Rs 283,30 on BSE, up 1.56 percent.

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The company also said its joint venture subsidiary, Epavo Electricals Private Limited, has been allotted 20,000 square metres parcel for a manufacturing unit in the same industrial area. The company has taken possession of that land as well.

The board of directors in March 2023 approved the new facility for a new line of business for production of printed circuit board (PCB), PCB laminates and copper and copper alloy – foil, bus bars and related products.

The Rs 1200-crore company is thinly tracked by analysts.

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