HIL surged 4.82% to Rs 2,370.20 at 11:42 IST on BSE after the company's subsidiary completed the acquisition of Germany-based Parador Holdings GmbH.
The announcement was made after market hours yesterday, 27 August 2018.Meanwhile, the S&P BSE Sensex was up 117.25 points, or 0.3% to 38,811.36
On the BSE, 3567 shares were traded in the counter so far, compared with average daily volumes of 1778 shares in the past two weeks. The stock had hit a high of Rs 2,395.10 and a low of Rs 2,288.80 so far during the day. The stock hit a record high of Rs 2,448 on 7 August 2018. The stock hit a 52-week low of Rs 1,100 on 25 September 2017.
HIL, through its wholly owned subsidiary, HIL International GmbH, Germany has completed the acquisition of Parador Holdings GmbH, Germany after receiving all necessary regulatory approvals including anti-trust approvals from German Federal Republic. Parador continues to be the category leader in design and innovation with all products developed internally.
The all-cash consideration is being funded by HIL through a combination of Euro debt, INR debt and internal accruals. With this the Debt - Equity ratio of HIL on a standalone basis will be at 0.55 and on a consolidated basis will be at 1.
Net profit of HIL rose 41.14% to Rs 52.04 crore on 22.52% rise in net sales to Rs 496.22 crore in Q1 June 2018 over Q1 June 2017.
HIL offers comprehensive building solutions.
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