Astec Lifesciences Ltd, a producer of agrochemicals and pharmaceutical intermediates, has acquired 10 acres of land in Maharashtra Industrial Development Corporation (MIDC) at Mahad to set up additional manufacturing facilities.
This site is located a few kilometres from the company's existing facilities at Mahad. Proximity to company's existing site will make it convenient to manage with its existing infrastructure and to optimise cost efficiency, it said in a filing to the Bombay Stock Exchange (BSE).
On Monday, Astec Lifesciences shares ended 1% up at Rs81 on BSE, while the benchmark Sensex closed flat at 18,409 points.
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