Lumax Bags Maruti Suzuki’s Order Stock Up By 6%


Lumax Industries Limited has received an order to supply new age headlamps and rear lamps for the new generation Maruti Suzuki Swift, that commences production later this year at the carmaker's Gujarat facility in Mehsana district. The order will be fulfilled from the Sanand plant.

The company has resorted to a capex of about Rs 120 crore, at Sanand, which is expected to commence operations from November 2017. The capex has been funded through internal accruals.

The plant is also expected to cater to the needs of TATA Tiago at Sanand as well as HMSI’s existing models at Gujarat. The facility will have a capacity of about 300,000 car-sets annually.

The stock of Laumax Industries Limited surged as much as 6% in the early morning trade.

At 9.55, on Monday, the stock of Lumax Industries Limited was trading at Rs 1430.00, up by Rs 72.95 or 5.38% on the BSE.
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