Himadri Chemicals & Industries rose 9.6 per cent on Friday to Rs 361 on BSE after the company said its global investment unit had formed a joint venture with a Chinese company to take over the existing coal tar distillation plant in Xiaoyi, Shanxi. Himadri Global Investment will hold a 90 per cent equity interest in the joint venture company and the Chinese company will own the remaining 10 per cent.
About 4,791 shares changed hands on the BSE counter on Friday. The stock has seen an average daily volume of 3,296 shares in the last one quarter. The stock hit a high of Rs 362 and a low of Rs 329.95 on Friday. It touched a 52-week high of Rs 800 on January 8 and a 52-week low of Rs 281.50 on September 1.
The mid-cap stock has outperformed the market over the past one month till September 18, gaining 7.84 per cent compared with the Sensex’s decline of 9.08 per cent during the same period. It has under-performed the market in the past one quarter, declining by 23.85 per cent compared with the Sensex’s drop of 13.66 per cent.