Orient Bell rose over 18% to hit an intraday high at Rs.684, which is not too far from its 52-week high of Rs.687.55. Volumes are up over 8x.
The market has given the company a thumbs up to its on-time completion of two of its projects involving CAPEX of R.20 crore.
This is the GVT Tile plant at Sikandrabad (U.P.) – increase in capacity by 0.7 MSM p.a.
The other is the conversion of Dora plant (Bharuch District, Gujarat) from Ceramic Floor to Vitrified Floor – incremental volume potential being 1.2 MSM p.a.
The company is a ceramic & vitrified tiles maker, with an annual capacity of 31+ million sq. meters, distributed across 3 plants, Sikandrabad, Hoskote and Dora and 2 associates entities in Morbi.