HSIL gains on divesting entire stake in HSIL Associates

29 May 2015

HSIL is currently trading at Rs. 360.00, up by 3.00 points or 0.84% from its previous closing of Rs. 357.00 on the BSE.

The scrip opened at Rs. 370.00 and has touched a high and low of Rs. 370.00 and Rs. 360.00 respectively. So far 1,296 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. 203.35 on 29-May-2014.

Last one week high and low of the scrip stood at Rs. 372.85 and Rs. 355.50 respectively. The current market cap of the company is Rs. 2,377.00 crore.

The promoters holding in the company stood at 47.11% while Institutions and Non-Institutions held 36.11% and 16.78% respectively.

HSIL has disinvested/sold its entire investment in equity shares of its wholly owned subsidiary ‘HSIL Associates’ pursuant to the decision taken by the board in its meeting held on May 18, 2015. Accordingly, HSIL Associates ceases to be a subsidiary company of HSIL.

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.

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