Himadri Speciality Chemical rose 2.53% to Rs 156.30 at 11:29 IST on BSE after the company said it will invest Rs 1000 crore in Carbon Black business in West Bengal.
The announcement was made after market hours yesterday, 14 March 2018.Meanwhile, the S&P BSE Sensex was down 97.34 points, or 0.29% to 33,738.40.
On the BSE, 1.94 lakh shares were traded in the counter so far compared with average daily volumes of 1.81 lakh shares in the past two weeks. The stock had hit a high of Rs 159 and a low of Rs 156.10 so far during the day. The stock hit a 52-week high of Rs 197 on 15 January 2018. The stock hit a 52-week low of Rs 42.35 on 29 March 2017.
Himadri Speciality Chemical will invest Rs 1000 crore to expand its Carbon Black business. The company will set up new carbon black lines in its existing integrated plant in Mahistikry, West Bengal for producing Specialty Carbon Black.
Himadri Speciality said it has a large portfolio of products catering to the needs of diverse industries and carving for itself a niche in its sector. The company has already introduced 10 grades in the last 1.5 years in domestic and global markets and will now be expanding their business in North America, Europe, South East Asia and Middle East Markets.
In a separate announcement after market hours yesterday, 14 March 2018, Himadri Speciality Chemical informed that the Government of India has imposed anti-dumping duty on the import of Sulphonated Naphthalene Formaldehyde (SNF) with a view to protect the interest of domestic manufacturers. The anti-dumping duty imposed shall be effective for a period of five years (unless revoked, superseded or amended earlier). Himadri Speciality Chemical said it has manufacturing facility of this product.
Net profit of Himadri Speciality Chemical rose 248.78% to Rs 70.14 crore on 42.17% rise in net sales to Rs 500.08 crore in Q3 December 2017 over Q3 December 2016.
Himadri Speciality Chemical is the largest vertically integrated speciality carbon company and the largest producer of coal tar pitch in India with headquarters in Kolkata, West Bengal.
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