Himatsingka Seide hits over 3-year high on strong demand outlook

The management said the company continues to witness strong demand for soft home products and the order books for financial year 2021-22 (FY2022) remains robust

Shares of Himatsingka Seide were locked inthe 5 per cent upper circuit for the second straight day, hitting an over three-year high of Rs 298.50, on expectation of strong demand. The stock of the textiles company was trading at its highest level since September 2018.

In the past three months, the stock has gained 54 per cent, as compared to a 13-per cent rise in the S&P BSE Sensex. While over the past one year, the market price of the company has more-than-doubled, and is up 109 per cent, against a 21-per cent rally in the benchmark index.