Shares of Inox India Ltd fell 2% after touching a day’s excessive of Rs 917.60 on twenty fourth February, regardless of the corporate turning into the primary cryogenic gear producer in India to obtain the distinguished IATF 16949 certification for cryogenic gasoline tank manufacturing.
Issued by Bureau Veritas Certification, the IATF 16949 certification validates high quality administration requirements for automotive OEM suppliers.
INOX India sees rising world demand for greener transport fuels and believes its LNG gasoline tanks can cater to this shift.
The certification was awarded after a complete audit of INOX India’s Kalol facility in Panchmahal, Gujarat, overlaying the whole design and manufacturing course of with out exclusions, underscoring the corporate’s experience in cryogenic gasoline tank manufacturing.
At the moment, the corporate’s market capitalisation stands at round Rs 8,203 crore.
At 2:38 PM, the shares of Inox India have been buying and selling 1.25% decrease at Rs 904.45 on NSE.
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