HIL gains on starting commercial production of Birla Aerocon Flat Board

HIL rose 1.12% to Rs 3,075 after the company said it has commercialized production of Birla Aerocon Flat Board at its plant at Faridabad in Haryana from Wednesday, 10 March 2021.

The company said that there is no additional capacity installed. The product is manufactured on the existing lines of production. The firm said that this augments its established presence in the building solutions segment. An expanded product range together with well-targeted distribution set-up and a solutions centric approach positions the company attractively as the customers step up their engagement with the business.

On the technical front, the stock's RSI (relative strength index) stood at 60.685. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day moving average (DMA) placed at 2633.91 and its 200-day moving average (DMA) placed at 1845.37.

HIL is engaged in the production and distribution of building products, thermal insulation products (refractories) and generation of wind power. The company operates through three segments: building products, thermal insulation products (refractories) and wind power.

The Indian stock market was shut yesterday (11 March 2021) on account of Mahashivratri.

Powered by Capital Market - Live News