Hyderabad Industries shot up 37.46 per cent over the week to close at Rs 354.10 due to commencement of commercial production of asbestos cement sheets and accessories at its Satharia unit in UP. The unit was commissioned in mid-May at a cost of Rs 30 crore.
In April, the company laid down a major expansion plan worth Rs 100 crore which involved setting up of two fibre cement sheet units and one autoclaved aerated concrete-block manufacturing facility.
In FY06, the company's net sales jumped by 10.5 percent to Rs 450.29 crore. Net profit jumped 287 per cent to Rs 37.68 crore.
