Rico Auto in the green
By
Research Desk
about 9 years ago
Rico Auto is up in the green and the stock price has risen 2% at Rs.40.70, its current intra day high point.
The stock has jumped up after the company commissioned and started commercial production at a manufacturing plant in Chennai for supply of high pressure die casting aluminium auto components to Renault-Nissan.
The company also stated that the first phase of the plant has installed capacity of 1.5 lakh sets per annum for making engine parts including cylinder blocks. The ramp up is taking place and plant would start running on full capacity by Q3 December 2016.
The company is also targeting other south based customers for domestic and export program to further enhance the business from Chennai plant.