Hind Rectifiers is doing very well today; from yesterday’s close of Rs.195.50, the stock opened today at Rs.199.10 and rose to an intraday high at Rs.227.30. Its 52-week high is at Rs.268.
Th stock price surged after it announced that its commercial production at new manufacturing plant situated at Sinnar, Nashik, Maharashtra commenced with effect from March 9, 2023.
The company has constructed around 12,900 square meters at Sinnar plant.
The benefits of these new production lines at Sinnar will however be availed in the following years from 2023-24 onwards and is expected to generate additional revenue.