Radha Madhav up in the green

Radha Madhav Corp which had hit an upper circuit yesterday at Rs.37.85 is up in the green today morning too. After rising over 11% at Rs.42.35, the stock is now at Rs.40.20, up 6.2%. Volumes are up over 3 times.

The company, which is multi material, multi process, multi product packaging solutions provider, announced yesterday after market hours that it has re-started its operations.

The company said that two substantial projects viz. MOPVC Project comprising of a 5 Roll Calendar, A Stretching Line and ancillaries imported from Austria, Europe and various destinations has been put back in production with complete overhauling and maintenance work. Cap-Ex for this project was in range of Rs.29 crore while setting up.

Similarly POF manufacturing Line involved from Italy, Europe involving a Cap-Ex of Rs.15 crore during setting up has also been put back in production with complete overhauling.

Above two projects shall have a significant positive impact on the business of the Company. These products shall cater to existing customers in Pharmaceutical, FMCG and general packaging sector.

Facing very insignificant and negligible competition for the above mentioned products; the company says that it will now have better positioning in expanding its Franchise Model