Business Business: Oriental Trimex shares will be in the news when the Indian stock market resumes operations on Monday. The small-cap stock has announced its foray into the business of cable machines for slab cutting. India’s leading processor and trader informed about this capex development through an exchange filing on Thursday. As a result, the small-cap stock witnessed strong buying during Friday’s deals and the small-cap stock below ₹ 20 closed 20 per cent higher at ₹ 14.50 on the NSE. All eyes will be on this stock on Monday as Dalal Street enthusiasts will be keen to know if the capex expansion is understated or there is still some breath left. Oriental Trimex News
The small-cap stock informed the Indian stock market exchanges about the capex expansion, saying,
“Oriental Trimex Limited, a leading processor and trader of natural stones for over two decades, is pleased to announce its plan to revolutionize the stone industry with the import and installation of a state-of-the-art wire-based gangsaw machine, commonly known as the “cable machine for slab cutting”, from China.” According to the press release shared by the small-cap company in its exchange filing, “This strategic investment underlines our commitment to adopt innovative technologies, enhance operational excellence and deliver unmatched quality to our esteemed customers in the high-end residential and commercial construction sectors.” The company planned to import and install the machine at its plant in Gummidipoondi near Chennai. This will be a significant milestone in the Indian stone processing industry. Unlike traditional gang saws that use multiple blades, this wire gang saw technology uses a series of 0.4-0.6mm diameter diamond-coated cables for precise cutting, setting a new standard for accuracy and efficiency.
