Apollo Systems subsidiary commissions new unit in Bengal, shares see profit booking
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓IDL Explosives Ltd commissioned a new bulk explosives silo unit near Asansol on October 22.
- ✓The facility holds 9,000 metric tonnes to supply mining operations.
- ✓While the company expanded its network, shares of Apollo Micro Systems fell 1.9 per cent on the NSE as investors started profit booking during the session.
Story at a Glance
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- MARKET
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- MoneyControl
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- 2 Minute(s)
- Market Focus
- India Economy
IDL Explosives Ltd, a group company of Apollo Micro Systems Ltd, has commissioned a bulk explosives silo unit near Asansol in West Bengal, with a capacity of 9,000 metric tonnes. Spread over 8.4 acres, the Bolkunda Silo Unit was inaugurated on October 22, the company said in an exchange filing. The facility will supply site-mixed bulk explosives to mining operations of Eastern Coalfields Ltd, Central Coalfields Ltd and other customers in the region. The new unit expands IDL Explosives' network of bulk explosives plants and silos across the country and strengthens its capacity to cater to long-term bulk explosives orders from Coal India subsidiaries, the company said.
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