Ingersoll-Rand (India), a diversified industrial enterprise, announced that it will invest Rs 1 billion to upgrade its manufacturing facility in Naroda, near Ahmedabad in Gujarat.

The strategic investment reinforces Ingersoll Rand's overall growth strategy in India that is focused on driving innovation, technology and product development and is a reflection of their long standing commitment to the country. Products and solutions manufactured at the Naroda plant will be distributed across both, Indian as well as global markets.

Shares of the company gained Rs 72.65, or 10.47%, to trade at Rs 766.80. The total volume of shares traded was 140,923 at the BSE (3.26 p.m., Friday).