Colgate-Palmolive gains on capacity expansion plans
Company has begun construction work at upcoming plant in Sanand
SI Reporter |
Last Updated at January 24, 2013 01:49 IST
Colgate-Palmolive (India) has moved higher by 3% at Rs 1,170 on reports that the oral and dental hygiene products manufacturer has begun construction work at its upcoming plant site in Sanand, Gujarat with an investment of Rs 200 crore.
“This will be Colgate's fifth plant after Aurangabad, Baddi in Himachal Pradesh, Hyderabad and Kundaim in Goa which is expected to commission by late 2014,” the report suggests.
Gujarat government has allotted 100,000 sq metres of land at the upcoming GIDC industrial estate in Bol village in Sanand to Colgate for the plant.
The stock opened at Rs 1,147 and touched the intra-day high of Rs 1,175 in trades so far. As amany as 13,000 shares have changed hands on the BSE compared to its two-week average of 11,000 shares.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Thu, June 14 2012. 12:11 IST