HIL rose 1.26% to Rs 766 at 09:35 IST on BSE after the company announced commencement of commercial production of coloured coated steel sheets at Balasore plant.
The announcement was made after market hours yesterday, 30 March 2017.Meanwhile, the S&P BSE Sensex was up 10.36 points or 0.03% at 29,657.78
On BSE, so far 598 shares were traded in the counter as against average daily volume of 5,177 shares in the past one quarter. The stock hit a high of Rs 768.85 and a low of Rs 761 so far during the day. The stock hit a 52-week high of Rs 770 on 30 March 2017. The stock hit a 52-week low of Rs 455 on 30 March 2016.
The small-cap company has equity capital of Rs 7.46 crore. Face value per share is Rs 10.
HIL said that the company has yesterday, 30 March 2017 began commercial production of coloured coated steel sheets at Balasore, Orissa with an installed capacity of 18000 MT per annum. The products will be marketed under brand name 'Charminar', which is known for building products in the country for its AC roofing sheets. The company's Balasore coloured coated steel sheets shall cater to the growing market in Orissa and other states of the country, HIL said.
HIL reported net profit of Rs 8.06 crore in Q3 December 2016 as compared to net loss of Rs 3.89 crore in Q3 December 2015. Net sales dropped 7.44% to Rs 198.59 crore in Q3 December 2016 over Q3 December 2015.
HIL (formerly Hyderabad Industries) is into building material solutions industry. HIL is a pioneer of green building materials, producing roofing solutions, panels, walling blocks, plywood substitutes, high-quality pipes and fittings, and industrial insulation.
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