Announced Fri, 3 Jul · 21:47 IST
Everest Industries subsidiary withdraws Rs 125 Cr CAPEX plan in Andhra Pradesh
EVERESTIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-0.6%1-day move
₹493.40
prior close
₹485.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.6———-0.6-5.2-2.1-0.3+4.4+4.4+10.4———
Up moveDown movePending
AI summary
Everest Industries wholly owned subsidiary ESBPL has withdrawn its Rs 125 Crore CAPEX plan to set up a Pre Engineered Steel Buildings (PEB) manufacturing facility at Ananthpuram, Andhra Pradesh. The board cited business considerations after a feasibility reassessment. ESBPL had invested Rs 2.91 Crore in land, which will be surrendered back to APIIC. The company states this will not adversely impact financials.
Likely market impact
Avoids a large risky investment; only minor land write-off of Rs 2.91 Cr, no material financial impact per company.