Greenply Industries jumps on plans to set up new Medium Density Fiberboard in AP

Greenply Industries is currently trading at Rs. 194.90, up by 4.90 points or 2.58% from its previous closing of Rs. 190.00 on the BSE.

The scrip opened at Rs. 190.95 and has touched a high and low of Rs. 197.90 and Rs. 183.05 respectively. So far 158 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 250.00 on 21-Feb-2012 and a 52 week low of Rs. 132.55 on 30-Dec-2011.

Last one week high and low of the scrip stood at Rs. 197.90 and Rs. 183.05 respectively. The current market cap of the company is Rs. 470.42 crore.

The promoters holding in the company stood at 55.00% while Institutions and Non-Institutions held 10.70% and 34.30% respectively.  Greenply Industries’ has received board’s nod for setting up a new Medium Density Fiberboard (MDF) Unit in Andhra Pradesh. Further, the company also plans to manufacture new value added products in Company's existing MDF Unit at Pantnagar, Uttarakhand, by way of expansion of its lamination capacity and introduction of laminated flooring and UV Coated Panels. The company’s board of directors in their meeting held on August 31, 2012 has approved the same.

Greenply Industries is engaged in manufacturing of plywood, laminates, decorative veneers, particle boards and prelam particle boards/MDF. The company has 28 branches across India with a strong dealer/distributor/sub-dealer/retailer network of over 9600 and a presence in over 300 cities.