HSIL trades jubilantly on plan of commissioning two new plants in Telangana

22 Feb 2017

HSIL is currently trading at Rs. 307.50, up by 14.80 points or 5.06% from its previous closing of Rs. 292.70 on the BSE.

The scrip opened at Rs. 295.00 and has touched a high and low of Rs. 308.90 and Rs. 294.10 respectively. So far 16283 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 369.50 on 24-Aug-2016 and a 52 week low of Rs. 224.95 on 25-Feb-2016.

Last one week high and low of the scrip stood at Rs. 308.90 and Rs. 277.20 respectively. The current market cap of the company is Rs. 2232.51 crore.

The promoters holding in the company stood at 48.43%, while institutions and non-institutions held 34.11% and 17.46% respectively.

HSIL is reportedly set to commission two new plants, one each to produce CPVC pipes and security products, in Telangana and will invest Rs 300 crore for the same. These plants will be launched in March and July respectively.

The new plants are part of the company’s Rs 400-crore capex plans, which also cover the expansion of existing plants in Rajasthan and Telangana. The latter will enhance its sanitaryware products capacity from 38 lakh units per annum to 42 lakh units.

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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