Max Ventures surges by over 3 per cent on capacity expansion

The share price of Max Ventures and Industries surged by over 3 per cent on the bourses in Friday’s trade as the company subsidiary Max Speciality Films Limited inaugurated its new BOpp1 manufacturing line on Thursday.

The launch of the new manufacturing line increased the production capacity of the company by 75 per cent to 80.85 kilo tonnes per annum (KTPA).

The stock hit an intraday high of Rs. 73.45 per share and an intraday low of Rs. 71.25 per share on BSE on Friday. The stock had touched its 52-week high of Rs. 108.55 per share on June 1, 2017 and its 52-week low of Rs. 64.75 per share on March 26, 2018 on BSE, respectively.

The company has also been planning to raise funds worth Rs. 450 crore through rights issue, in order to fund its real estate project pipeline. The company is also planning to foray into recyclable packaging.

At 11:33 hours IST, the stock was trading at Rs. 72.35 per share, up by 3.43 per cent on BSE on Friday. Meanwhile, S&P BSE Sensex was trading at 35,342.70 level, higher by 0.27 per cent and NSE Nifty 50 was trading at 10,751.50 level, higher by 0.33 per cent, respectively.