Signet Inds gains on launching CPVC Pipes and Fittings

12 Aug 2014

Signet Industries is currently trading at Rs. 308.00, up by 0.30 points or 0.10% from its previous closing of Rs. 307.70 on the BSE.

The scrip opened at Rs. 314.25 and has touched a high and low of Rs. 326.00 and Rs. 308.00 respectively. So far 9149 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 360.00 on 06-Dec-2013 and a 52 week low of Rs. 275.10 on 09-Jun-2014.

Last one week high and low of the scrip stood at Rs. 309.00 and Rs. 285.00 respectively. The current market cap of the company is Rs. 898.96 crore.

The promoters holding in the company stood at 73.36 % while Non-Institutions held 26.64% of the stake.

Signet Industries has launched CPVC Pipes and Fittings for hot and cold water applications used in household and infrastructure projects. This product is in high demand and its raw material is scarce as very few manufacturers are engaged in manufacturing CPVC Resin/Compound in the world.

The company has made arrangements for regular sourcing of this raw material from world-renowned suppliers and has successfully started manufacturing these pipes & fittings. This will help to further grow the company in near and long- term.

Signet Industries is engaged in the manufacture, trade, and export of poly products in India. It distributes HDPE, LDPE, PVC, PP, and PET resins.

Related Signet Industries Ltd. Links:

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