SEL Manufacturing Co Ltd said it started first phase of expansion at its spinning unit located at Sehore in Madhya Pradesh. The company has already acquired around 400 acres of land for the project and the total cost for proposed spinning plant is envisaged at Rs1,920 crore.
The expansion project consists of spinning unit with the capacity of 326,400 spindles divided into two phases. The first phase for which implementation work is in progress consists of 195,840 spindles and second phase consists of 130,560 spindles. Further it is also proposed to set up vertex spinning facility with capacity of 2,400 spindles and open end spinning with capacity of 2,040 rotors, it said in a regulatory filing.
On Monday, SEL Manufacturing shares fell 5.4% to Rs50 on the Bombay Stock Exchange, while the Sensex ended at 0.1% down at 17,928 points.
Indowind Energy Ltd registered a first quarter net profit of Rs3.13 crore compared to Rs7.05 crore for the quarter ended June 2009.
During the period its total revenues increased to Rs9.7 crore from Rs8.8 crore, same quarter a year ago.
On Monday, Indowind Energy shares closed 2.6% down at Rs49 on the Bombay Stock Exchange, while the Sensex ended at 0.1% down at 17,928 points.
MIC Electronics Ltd said it formed a joint venture with Taiwan-based home lighting appliances manufacturer Home Resources Ind Co Ltd to produce light-emitting diode (LED) products in India. No financial details were provided.
The agreement aims to manufacture innovative and cost effective LED lighting products for both urban and rural applications in India. The agreement envisages manufacture of around 1 lakh lights in the next six months and around a million in the next 18 months, the company said in a regulatory filing.
On Monday, MIC Electronics shares closed 0.4% up at Rs40 on the Bombay Stock Exchange, while the Sensex ended at 0.1% down at 17,928 points.