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HSIL zooms on planning to invest Rs 320 crore to set up glass manufacturing facility in Telangana

29 Oct 2020 Evaluate

HSIL is currently trading at Rs. 80.30, up by 4.25 points or 5.59% from its previous closing of Rs. 76.05 on the BSE.

The scrip opened at Rs. 77.00 and has touched a high and low of Rs. 81.75 and Rs. 77.00 respectively. So far 35332 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 83.55 on 25-Sep-2020 and a 52 week low of Rs. 34.70 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 81.75 and Rs. 72.75 respectively. The current market cap of the company is Rs. 558.77 crore.

The promoters holding in the company stood at 53.91%, while Institutions and Non-Institutions held 7.69% and 38.40% respectively.

HSIL is planning to invest Rs 320 crore to set up a new speciality glass manufacturing facility in Telangana and raise production capacity of its plastic business facility. The company would invest Rs 220 crore in AGI Glaspac to manufacture specialty glass and the greenfield (new) facility will be operational by the end of September 2022.

Besides, it will invest Rs 100 crore in their plastic pipes and fittings solution business to increase the production capacity at the Sangareddy, Telangana, plant.  The investment of Rs 100 crore is a strategic decision to make company’s production facility more robust and manage the demands in the new normal. The expansion is a testament to company’s commitment to the customers and its vision for the future.

HSIL is the largest Indian sanitaryware manufacturer. The company is engaged in the business of manufacturing selling and trading of building products glass products & plastic packaging products consumer products and retail business.

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