Lumax Industries hits life time high

Lumax Industries has hit a life time high today at Rs.1445; it has come off the high currently but remains firmly in the green, up 5.5% at Rs.1430.

The company announced on Friday, after market hours that it has received a new order. The company will be supplying headlamps and rear lamps to Maruti Suzuki for its Swift model of cars.

It also said that it had planned a capex of around Rs.120 crore at Sanand in Gujarat and it plans to begin operations there from Nov 2017. This capex was funded entirely via internal accruals.

The plant at Sanand will work at full capacity by FY20. This plant will cater to the needs of Tata Motors Tigor model  and also its existing models of Heavy Motor Vehicles made in Gujarat.

The company is extremely positive about the current fiscal and this has most certainly enthused the market and the fact that it has judiciously used internal funding and not piled up on debt.