Green Panel Industries Limited Board of Directors at its meeting held on Wednesday has approved Capital Expenditure of Rs55cr at its MDF plants situated at Rudrapur (Uttarakhand) and Chittoor (Andhra Pradesh) for better productivity and cost-efficiency.
The projects include installation of Wax Emulsion System for Rs26cr and installation of Mat Heating System Rs29cr.
The company stock was bullish in Thursday's session of trade. At around 2.00 pm, Greenpanel Industries was trading at Rs126.05 per piece up Rs4.00 or 3.28% on the BSE.
“The Capital Expenditure shall be funded through a mix of internal accruals and debts,” company said in a regulatory filing.