Hitech Corporation shines on initiating activities for setting up of new plant at Vishakhapatnam

06 Feb 2019

Hitech Corporation is currently trading at Rs. 114.00, up by 10.35 points or 9.99% from its previous closing of Rs. 103.65 on the BSE.

The scrip opened at Rs. 108.00 and has touched a high and low of Rs. 119.95 and Rs. 105.60 respectively. So far 133 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 174.80 on 14-Feb-2018 and a 52 week low of Rs. 67.15 on 24-Oct-2018.

Last one week high and low of the scrip stood at Rs. 119.95 and Rs. 103.10 respectively. The current market cap of the company is Rs. 178.03 crore.

The promoters holding in the company stood at 74.43%, while Institutions and Non-Institutions held 0.03% and 25.54% respectively.

Hitech Corporation has initiated activities for setting up of new plant at Vishakhapatnam for manufacturing of rigid plastic containers. The construction activity is in progress and the company has spent a sum of Rs 22.60 crore until December 31, 2018.

Earlier, the company had allotted land at Vishakhapatnam in the state of Andhra Pradesh for setting up industrial unit.

Hitech Corporation is engaged in the manufacturing and marketing of innovative polymer products to various industries paints, personal care and cosmetic packaging, agro chemicals and lube, health and pharma products, confectionary and retail household products.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323