HIL firms up after commencing production of new product

HIL rose 1.87% to Rs 1,339 at 10:49 IST on BSE after the company said it commenced commercial production of green roofing solution at Kondapalli plant in Andhra Pradesh.

The announcement was made after market hours yesterday, 21 December 2017.

Meanwhile, the S&P BSE Sensex was up 191.02 points, or 0.57% to 33,947.30.

On the BSE, 281 shares were traded in the counter so far, compared with average daily volumes of 1,507 shares in the past two weeks. The stock had hit a high of Rs 1,350 and a low of Rs 1,323 so far during the day. The stock hit a record high of Rs 1,425 on 26 October 2017. The stock hit a 52-week low of Rs 582 on 27 December 2016.

HIL announced that it has commenced the commercial production of its new product "Charminar Fortune" at its plant located at Kondapalli, Andhra Pradesh. This advanced research-based, green roofing solution has been developed by HIL in-house. Charminar Fortune is a new addition to the company's roofing products, which is Asbestos free and marketed under the brand 'Charminar'.

Net profit of HIL rose 7.5% to Rs 9.43 crore on 12.3% rise in net sales to Rs 256.46 crore in Q2 September 2017 over Q2 September 2016.

HIL makes building material solutions like green building materials, producing roofing solutions, panels, walling blocks, plywood substitutes, high-quality pipes and fittings, and industrial insulation.

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