Signet Industries soars on plan to acquire additional varieties of moulds for in-house product

31 Jul 2012

Signet Industries is currently trading at Rs. 150.25, up by 5.25 points or 3.62% from its previous closing of Rs. 145.00 on the BSE.

The scrip opened at Rs. 148.80 and has touched a high and low of Rs. 151.00 and Rs. 146.00 respectively. So far 2998 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 146.00 on 30-Jul-2012 and a 52 week low of Rs. 76.00 on 01-Feb-2012.

Last one week high and low of the scrip stood at Rs. 151.00 and Rs. 120.00 respectively. The current market cap of the company is Rs. 440.72 crore.

The promoters holding in the company stood at 73.36% while Non-Institutions held 26.64% stake in the company.

Signet Industries has decided to take effective steps for acquiring additional varieties of moulds for in-house manufacture of various product and accessories related to micro irrigation and sprinkle irrigation system. Meanwhile, considering the prospective demand of drip irrigations systems in various states, the company has decided to set up additional drip-line at existing plant at Pithampur.

Recently, the company obtained allocation for supply of drip irrigation system to irrigate 5000 hectares of land as first installment for the year 2012-13 by Government of Andhra Pradesh (AP), Department of Horticulture, Andhra Pradesh Micro-irrigation Project.

The company is engaged in the manufacture, trade, and export of poly products in India. It distributes HDPE, LDPE, PVC, PP, and PET resins. The company also involves in the manufacture of various plastic products; and the distribution of chemical products, including food chemicals, phosphate, and paints.

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Signet Industries Share Price

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