Keep a close eye on this trending smallcap stock, which is a part of Ashish Kacholia’s portfolio!
The launch of this new manufacturing facility is expected to help the company to reduce cost and improve production lead time.
Incorporated in 2015, Virtuoso Optoelectronics Limited manufactures consumer durable goods, assembles a wide array of products, and provides end-to-end product solutions. The company's current product portfolio of consumer goods includes Split Air Conditioners, Water Heaters, LED Lighting products and other miscellaneous products such as injection molding components for air conditioners.
On Tuesday, the company announced the launch of its fourth manufacturing facility in Nashik. This will help the company to grow the in-housedemand for plastic components and cross flow fans (CFF), while enhancing the production capabilities and customer service.
The new facility is nearly 20,000 sq ft and is equipped with modern machinery which will enable VOEPL to produce CFF and wide range of products. The company plans to double to initial capacity of production of 40,000 CFFs every month to 80,000 CFFs every month.
The launch of this new manufacturing facility is expected to help the company to reduce cost and improve production lead time. The company is continuing to build on its plans to strengthen their backward integration & to continuously work towards capacity.
Amid weak markets, the stock surged more than 1.2 per cent to make an intraday high of Rs 162 per share. In the last six months, the stock has witnessed heavy buying and surged more than 39 per cent. Keep a close eye on this trending smallcap stock, which is a part of Ashish Kacholia’s portfolio.