HSIL gains on plans to set up third manufacturing plant in Gujarat

23 Jun 2014 Evaluate

HSIL is currently trading at Rs. 276.50, up by 1.00 points or 0.36 % from its previous closing of Rs. 275.50 on the BSE.

The scrip opened at Rs. 278.00 and has touched a high and low of Rs. 283.00 and Rs. 273.30 respectively. So far 50585 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 289.90 on 20-Jun-2014 and a 52 week low of Rs. 70.75 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs. 289.90 and Rs. 225.55 respectively. The current market cap of the company is Rs. 1846.00 crore.

The promoters holding in the company stood at 51.57 % while Institutions and Non-Institutions held 28.41 % and 20.02 % respectively.

HSIL is planning to set up its third manufacturing plant in the country in Gujarat with an investment of about Rs 150 crore. In this regard, the company has already taken possession of around 70 acres of land near Dahej. Work on the plant is likely to start in early 2015, and the manufacturing site will go into production by end 2016.

The company has two plants, one in Haryana with an installed capacity of 1.8 million units per annum, and another one at Nalgonda district of Telangana with an installed capacity of 2 million units per annum. With the third plant coming onstream, HSIL’s installed capacity would reach 5 million units per annum.

Meanwhile, the company is planning to add around 100 large format retail stores per year, and around 600 smaller stores across the country to boost its retail expansion. Besides, the company also plans to expand in its existing export markets, which include countries like Fiji, New Zealand, Australia, parts of Europe, and a few African countries like Nigeria, Kenya, Zambia and South Africa.

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