Shares of LGB Forge Limited rose 5% today, trading at ₹12.31, following the company’s announcement of establishing a state-of-the-art hot forging plant in Kondampatti Village, Kinathukadavu, Coimbatore.
The facility, which will add a production capacity of 0.90 million pieces annually, is set to begin operations by January 2025. Notably, the project requires no external investment as it will be financed through internal accruals, highlighting the company’s robust financial health.
The decision was approved by the Board of Directors via a circular resolution, underlining the company’s commitment to expanding its manufacturing capabilities and meeting the growing demand in the forging sector. With no existing capacity at the location, this strategic move is expected to significantly boost LGB Forge’s production and market presence. Further updates on the development will be provided as the project progresses.
