On Monday, Finolex Cables entered into an agreement with the Maharashtra industries department, committing to invest Rs 580 crore.
The investment aims to substantially increase its optic fibre cables capacity to 10 lakh fibre km per year.
This expansion comes in response to the growing demand for last-mile connectivity driven by the rollout of 5G technology.
Currently operating at a capacity of 40 Lakh fibre km annually, Finolex Cables anticipates reaching the 10 Lakh mark post the new plant’s commissioning.
The forthcoming facility will be dedicated solely to manufacturing fibre optic cables, as stated by the company. However, details regarding the project’s location and timeline for commencement and completion were not provided in the company’s statement.
The proposed upgrade will result in doubling the draw tower capacity to 8 lakh fiber km per year, thereby elevating the annual capacity of fiber optic cables to 10 lakh fiber km from the current 4 lakh fiber km
Finolex Cables Share Prices
Finolex Cables share price closed at ₹999.00 on 19 Feb 2024.
Over the span of one day, Finolex Cables experienced no gain or loss, holding steady. However, over a period of 5 days, there was a modest gain of 1.19%.
Looking at a broader timeframe, the performance over one month showed a decrease of 7.50%, while over six months, the loss was slightly higher at 6.44%.
Yet, zooming out to a one-year perspective reveals a significant gain of 48.36%, indicating a positive trajectory.
Over a five-year horizon, the growth soared impressively to 164.29%, showcasing substantial long-term potential.
Remarkably, since its inception until February 5, 1999, the company’s performance skyrocketed by an astonishing 4,590.14%.
| Time Period | Gain or Loss |
|---|---|
| 1D | 0% |
| 5D | 1.19% |
| 1 month | -7.50% |
| 6 Months | -6.44% |
| 1 Year | 48.36% |
| 5 Years | 164.29% |
| Max(5 Feb, 1999) | 4,590.14% |
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