Asian Paints: The company gave 2 important information to the market, keep an eye on the stock

Asian Paints, a leading company in the paint sector, has shared two important information with the stock market after the market closed today. The company has today informed about the increase in the capex plan for its proposed plant. At the same time, the company has also informed the stock market about the change in management. The stock closed with a gain of more than half a percent in Thursday's trading.

Amount increased for Dahej facility

The company said in the information sent to the stock market that the board of the company in the meeting held on March 27 has approved additional capital expenditure of ₹ 690 crore for its proposed manufacturing facility in Dahej, Gujarat. With this, the cost of the project has increased to Rs 3,250 crore. Earlier the cost of the project was Rs 2,560 crore. This increase has been made due to the increase in the cost of the project and pre-operation expenses. The company will use both equity and debt routes to raise this amount. Changes in management Along with this, the company has also announced changes at the senior management level. According to the information given to the stock market, Joseph Appen, who is currently Associate Vice President at Asian Paints International Private Limited (APIPL), has been appointed as the Chief Executive Officer of APIPL. Rahul Bhatnagar, who is currently the President of Project Sales, R&T, Industrial JV, Home Improvement, will now also take charge of the supply chain function. How was the stock performance? Asian Paints stock closed at 2338 with a gain of half a percent on Thursday. The stock had recorded a year's low of 2125 this month. In September last year, the stock reached a year's highest level of 3394. 

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