Transpek Industry gains after announcing new project

Chemical manufacturing company, Transpek Industry Limited is trading higher today after the company on February 26, 2020 announced that its board of directors have considered and approved a new project in its meeting held on Tuesday.

According to reports, the new project would be undertaken by the company’s wholly-owned subsidiary-Transpek Creative Chemistry Private Limited at an estimated cost of Rs 120 crore. Part funding of the abovementioned project would be done by equity infusion of Rs 30 crore as well as by taking a loan of Rs 30 crore.

Set up in 1965, initially for manufacturing transparent acrylic sheets, the company-Transpek Industry Ltd gradually evolved as a ‘first time manufacturer’ of several products in India. The company also pioneered the development of the market for the same. Transpek Industry Ltd has an international presence for over a decade and has earned the name for being a ‘quality supplier’.

At 10.51 am on Thursday, the stock of Transpek Industry Ltd is trading at Rs 1,783.00, up by 7.45 per cent against its previous close of Rs 1,659.40. Its 52-week high is Rs 1,890.00 and its 52-week low is Rs 1,076.50 on BSE.