Akzo Nobel India shares jumped more than 3% today after the company started its commercial production of Gwalior plant.
The company announced that it began commercial production of powder coating products from its plant in Gwalior, Madhya Pradesh, on September 5, 2024, with an established production capacity of 5166 T per year. The company said that capacity could be raised based on future demand.
Furthermore, this commercial production is intended to support capacity development by meeting the company’s powder coating market demand, mainly in North and Eastern India. The firm has invested Rs 105 crore on the projects, which have been funded through internal accruals.
As of 11:47 am, Akzo Nobel India shares were trading 3.17% higher at Rs 3,803.95 on the NSE.
