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Himatsingka Seide strengthens on getting approval for Rs 1281 crore capex plan

01 Sep 2015

Himatsingka Seide is currently trading at Rs. 191.40, up by 7.10 points or 3.85% from its previous closing of Rs. 184.30 on the BSE.

The scrip opened at Rs. 183.20 and has touched a high and low of Rs. 194.10 and Rs. 180.50 respectively. So far 89650 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 216.00 on 19-Aug-2015 and a 52 week low of Rs. 74.35 on 09-Jun-2015.

Last one week high and low of the scrip stood at Rs. 194.10 and Rs. 158.00 respectively. The current market cap of the company is Rs. 1892.35 crore.

The promoters holding in the company stood at 57.07% while Institutions and Non-Institutions held 15.15% and 27.77% respectively.

Himatsingka Seide has received its board’s approval for an investment of Rs 1281 crore to expand the Group’s manufacturing facilities at Hassan. The investments entail an increase in its current sheeting capacity, backward integration into spinning and a foray into terry towels. The investments will be carried out in phases over the next three years.

The Group has over 12 brands globally including marquee brands like Calvin Klein Home, Barbara Barry, kate spade new york, Esprit, Bellora and atmosphere, among others. In addition, the Group also has a strong foothold in the private label space. The Group is exploring various initiatives to augment its Brand and Private Label portfolios.

Himatsingka Seide is in the business of manufacturing natural silk and silk blended fabrics, silk woven yarn, etc. Its product range includes decorative fabrics for home furnishings mainly bed linen, bridal wear, fashion fabrics for men and women wear etc.


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