HSIL inches on acquiring 100% stake in Garden Polymers

16 Aug 2011

HSIL is currently trading at Rs 206.35, up by 0.40 points or 0.19% from its previous closing of Rs 205.95 on the BSE.

The scrip opened at Rs 206.50 and has touched a high and low of Rs 210.85 and Rs 206.35 respectively. So far 7,496 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 245.80 on 291-Jul-2011 and a 52 week low of Rs 116.50 on 01-Mar-2011.

Last one week high and low of the scrip stood at Rs 213.00 and Rs 192.00 respectively. The current market cap of the company is Rs 1,362.00 crore.

The promoters holding in the company stood at 51.34% while Institutions and Non-Institutions held 25.97% and 22.69% respectively.

HSIL has successfully acquired 100% stake in Garden Polymers along with management control subject to satisfaction of conditions precedent and other legal compliances. HSIL had already received an approval to acquire entire 100% paid up capital of Garden Polymers at its board meeting held on June 08, 2011.

Garden Polymers is engaged in the business of manufacturing PET bottles, caps and closures, having plants at Dharwad (Karnataka) and Selaqui (Uttarkhand). It is a leading supplier to premier customers in Liquor, Pharma and FMCG Industry.

Hindustan Sanitaryware & Inds. (HSIL), a sanitary ware and bathroom equipment maker was incorporated as Hindustan Twyfords.The products of the company include – Sanitaryare, Faucets, Wellness Product and Kitchen Appliances.

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