Haldyn Glass spurts after board nod for JV with Heinz Glas International

Haldyn Glass Gujarat jumped 6.55% to Rs 29.30 at 09:38 IST on BSE, after the company's board of directors approved the proposal for a joint venture with Heinz Glas International GMBH, Germany.

The announcement was made after market hours yesterday, 23 June 2015.

Meanwhile, the BSE Sensex was up 31.13 points, or 0.11%, to 27,835.50

On BSE, so far 1.71 lakh shares were traded in the counter compared with the average daily volume of 54,463 shares in the past one quarter.

The stock hit a high of Rs 30.95 and a low of Rs 28.50 so far during the day. The stock had hit a record high of Rs 35.95 on 3 December 2014. The stock had hit 52-week low of Rs 15.35 on 14 July 2014.

The stock had outperformed the market over the past one month till 23 June 2015, gaining 22.22% compared with 0.55% fall in the Sensex. The scrip also outperformed the market in past one quarter, surging 23.87% as against Sensex's 1.38% fall.

The company has an equity capital of Rs 5.38 crore. Face value per share is Re 1.

Haldyn Glass announced that the company's board of directors at its meeting held yesterday, 23 June 2015, approved the proposal for a joint venture with Heinz Glas International GMBH, Germany, for the manufacturing of perfume and cosmetic glass bottles for the export and local market. Heinz Glas brings more than 350 years of experience in the manufacture of high quality cosmetic and perfume glass bottles and is present at 16 locations in 12 countries across the world.

Haldyn Glass Gujarat's net profit fell 9.4% to Rs 3.38 crore on 7.5% fall in net sales to Rs 33.43 crore in Q4 March 2015 over Q4 March 2014.

Haldyn Glass Gujarat is a player in the glass container industry.

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