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Mivi said that the expansion has effectively doubled the company’s production capacity in comparison to its existing factory located at Hardware Park, Shamshad, Hyderabad which employs over 1,500 people.
The new MIVI facility comes with an investment of Rs 200 Crore in the state, and is expected to create 2000 new jobs, the company said.
TECH NEWS News: Mivi's new Hyderabad factory, investing Rs 200 crore, creates 2,000 jobs under Midhula Devabhaktuni's lead. It pioneers wearables' component manufactu
Sensex fell 434 points to 72,623 and Nifty lost 142 pts to 22,055. BSE investor wealth fell to Rs 388.87 lakh crore.
A short build-up was seen in 72 stocks including Ashok Leyland, Aditya Birla Fashion & Retail, L&T Technology Services, Ramco Cements, and NMDC.