HIL gains for second day in a row after announcing turnaround Q3 outcome

HIL advanced 4.44% to Rs 666.30 at 12:02 IST on BSE, with the stock extending yesterday's gains triggered after declaring turnaround Q3 December 2016 result.

Meanwhile, the S&P BSE Sensex was down 61.07 points or 0.25% at 27,219.33

On BSE, so far 22,000 shares were traded in the counter as against average daily volume of 2,927 shares in the past one quarter. The stock hit a high of Rs 687.80 and a low of Rs 637 so far during the day.

The stock hit a 52-week high of Rs 721 on 17 October 2016. The stock hit a 52-week low of Rs 421.75 on 25 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 3.96% compared with the 3.01% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 7.38% as against Sensex's 2.72% decline.

The small-cap company has equity capital of Rs 7.46 crore. Face value per share is Rs 10.

HIL reported net profit of Rs 8.06 crore in Q3 December 2016 as compared to net loss of Rs 3.89 crore in Q3 December 2015. Net sales dropped 7.44% to Rs 198.59 crore in Q3 December 2016 over Q3 December 2015. The Q3 result was announced during market hours yesterday, 16 January 2017. The stock had gained 1.91% to settle at Rs 637.95 yesterday, 16 January 2017.

Meanwhile, HIL at fag end of the day's trading session yesterday, 16 January 2017 announced that the company has on 14 January 2017 commenced commercial production at its newly established dry mix manufacturing facility at Jhajjar, Haryana. The installed capacity is 72,000 MT (i.e 44,000 MT of wall putty and 28,000 MT of cement based grey mortar) per annum. The products will be marketed under brand name Aerocon, which is one of the most trusted name for building products in the country, HIL said. The company's Jhajjar dry mix plant shall cater to the growing market in Haryana and other states of the country, the company said.

HIL (formerly Hyderabad Industries) is into building material solutions industry. HIL is a pioneer of green building materials, producing roofing solutions, panels, walling blocks, plywood substitutes, high-quality pipes and fittings, and industrial insulation.

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