Sprayking Agro Equipment Limited’s shares were up by 0.39 per cent after the company initiated an expansion project valued at ₹18 crore. The expansion involves procuring machinery from a supplier for integration with Sprayking’s 3,000 sq m manufacturing facility. The company said the upgrade will improve manufacturing standards to meet market requirement.
The company transferred its manufacturing operations to its subsidiary Narmadesh Brass Industries Limited to ensure production continuity while the parent company modernises the primary factory.
The expansion will also catalyse job creation and the economic development of the region, the company said.
The shares were up by 0.39 per cent to ₹208.05 at 2 pm on the BSE.