HSIL shines on receiving nod to merge Garden Polymers with itself

26 Sep 2012

HSIL is currently trading at Rs. 130.00, up by 0.25 points or 0.19% from its previous closing of Rs. 129.75 on the BSE.

The scrip opened at Rs. 130.00 and has touched a high and low of Rs. 131.00 and Rs. 128.00 respectively. So far 12,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 207.00 on 20-Oct-2011 and a 52 week low of Rs. 104.00 on 04-Sep-2012.

Last one week high and low of the scrip stood at Rs. 131.00 and Rs. 115.05 respectively. The current market cap of the company is Rs. 858 crore.

The promoters holding in the company stood at 51.57% while Institutions and Non-Institutions held 23.95% and 24.48% respectively.

HSIL has received approval for the scheme of amalgamation of Garden Polymers, a wholly owned subsidiary with the company at its board meeting held on September 25, 2012. Further, the said amalgamation is subject to necessary statutory and other approvals.

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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