After market hours yesterday, Navin Flourine International informed the exchanges that post successful mechanical completion and plant trials the company's cGMP capacity addition at Dewas Plant, Madhya Pradesh, it has commenced commercial production with effect from January 6,2020.
The start of production from this facility augurs well for the company and it will add on substantially to its CRAMs activity.
Additionally, if one may recollect, in Dec, the company had announced that it has approved a capital expenditure programme at Dahej (Gujarat) through a wholly-owned subsidiary at an estimated capital outlay of Rs.450 crore over the next three-four years.
All these are signals that the company is doing well and is looks ahead with a lot of optimism.
It is this optimism which has got the thumbs up from the market.
The stock which had closed yesterday at Rs.1021.80, opened higher today at Rs.1045, going on to hit a new 52-week high at Rs.1083.95.