New Delhi, March 20 -- BMW Industries shares surged by nearly 9 percent during intra-day trading on Thursday, March 20, following the company's announcement of a significant capital expenditure (capex) plan worth Rs.800 crore. The multibagger stock, which has delivered a remarkable 250 percent return over the past five years, gained traction after the company revealed its plans to establish a greenfield downstream steel complex in Bokaro, Jharkhand.

"The Board of Directors of BMW Industries Limited ("the Company") at its meeting held today has approved capital expenditure (Capex) of Rs.803.47 crore for the establishment of a Green-field Downstream Steel Complex at Bokaro, Jharkhand. The project will be funded through a mix of Internal Ac...