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HSIL shines as RBI allows increasing FII limit upto 40%

30 Apr 2015

HSIL is currently trading at Rs. 414.90, up by 16.35 points or 4.10% from its previous closing of Rs. 398.55 on the BSE.

The scrip opened at Rs. 422.10 and has touched a high and low of Rs. 444.45 and Rs. 409.00 respectively. So far 31766 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 477.00 on 13-Apr-2015 and a 52 week low of Rs. 144.55 on 30-Apr-2014.

Last one week high and low of the scrip stood at Rs. 444.45 and Rs. 374.10 respectively. The current market cap of the company is Rs. 2995.24 crore.

The promoters holding in the company stood at 51.57% while Institutions and Non-Institutions held 31.21% and 17.22% respectively.

Reserve Bank of India (RBI) has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest upto 40% of the paid up capital of HSIL (hindware) under the Portfolio Investment Scheme (PIS). The company has already passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.

HSIL is one of the leading domestic players in container glass and building products segments. Under the second segment, the company manufactures and trades in sanitaryware products, faucets and wellness products. It has five manufacturing facilities in India, of which three are located in Andhra Pradesh, one in Rajasthan and one in Haryana.

Related HSIL Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323