Sturdy Industries Ltd said it will set up a project worth Rs111 crore at Chaygaun, near Guwahati in Assam, to manufacture ABC cables and conductors, aluminium profiles and other aluminium products.
The company has already taken land on lease from Assam Industrial Development Corporation to set up the project. It has already started initial developments at site and start financial arrangement with existing bankers. The construction for equity will be brought through preferential issue and internal accruals from existing business.
On Monday, Sturdy Industries shares gained 2.1% to Rs6 on the Bombay Stock Exchange, while the benchmark Sensex closed flat at 18,409 points.
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SARABJIT SINGH (Company secretary cum CFO) had resigned from the company on dated 26.05.2010. Firstly the auditors had resigned in the month of march now the company secretary ....something fishy going on in the company.
Investors please BEWARE