HSIL declines as pollution control board asks the company to close its unit

20 Mar 2017

HSIL is currently trading at Rs. 318, up by 9.45 points or 2.89% from its previous closing of Rs. 327.45 on the BSE.

The scrip opened at Rs. 326.90  and has touched a high and low of Rs. 326.90 and Rs. 310.70 respectively.

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. 255.40 on 21-June-2016.

Last one week high and low of the scrip stood at Rs. 335.00 and Rs. 310.70 respectively. The current market cap of the company is Rs. 2,100.28 crore.

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

Rajasthan State Pollution Control Board has directed HSIL to close operations at its Kaharani unit in Alwar, citing violation of environmental norms. The company has initiated necessary legal recourse against the order, insisting it complied with all prescribed laws. The order follows after the National Green Tribunal (NGT) on March 1 revoked its consent to operate the Kaharani unit of the company on account of few sample tests conducted by the authorities.

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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