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Bhansali Engineering Polymers has informed the exchanges that the proposed expansion project at its plant in Abu Road, Rajasthan, at an estimated capex of ₹300 crore will be funded through internal accruals only. The company plans capacity expansion of ABS production from the existing 80 KTPA to 137 KTPA. The expansion plan mainly comprises augmenting the HRG production capacity from the existing 15,000 tpa to 35,000 tpa at the Satnoor plant; expanding SAN production capacity at Abu Road from the existing 60,000 to one lakh tpa; and extrusion capacity expansion at Abu Road by compounding HRG & SAN to manufacture ABS from the existing 80,000 tpa to 1.37 lakh tpa by December 31, 2018. After recording a 52-week high at ₹84.50, shares of Bhansali Engineering closed at ₹80.85, down 2.8 per cent, over the previous day’s close on the NSE.
Shrenuj & Company has informed the exchanges that closure has been announced for the company’s SEEPZ Unit with effect from July 17 after working hours and all the employees therein have been terminated. The company, however, did not provide any other details, such as financial implication, number of employees, or turnover of the unit, in the release to the stock exchanges. Shares of Shrenuj & Company, which is into manufacture, importing, cutting, polishing and processing of rough diamonds and exporting polished diamonds were suspended by the bourses due to penal reasons.
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