Gokaldas Exports is buzzing quite a bit today. The stock price opened 1.5% higher at Rs.202 and went on to hit an intraday high at Rs.208.60, hitting the 5% UC briefly. Its 52-week high is at Rs.236.
The stock is up after it stated that it has has commenced commercial production at its new manufacturing unit situated at Sathyamangala Industrial Area, Tumkur, Karnataka after successfully obtaining licences and clearances from all the relevant stakeholders.
On achievement of full ramp up and productivity, the unit will contribute about 4.5% to its current capacity.