HIL jumps after starting coloured steel sheets production at Wada, Maharashtra

HIL jumped 7.04% to Rs 718.20 at 10:45 IST on BSE after the company said that on 7 July 2015, the company has commenced commercial production of coloured steel sheets at its manufacturing facility in Wada, Maharashtra.

The company made announcement after trading hours yesterday, 8 July 2015.

Meanwhile, the S&P BSE Sensex was up 26.67 points or 0.1% at 27,714.39.

On BSE, so far 14,587 shares were traded in the counter as against average daily volume of 5,843 shares in the past one quarter.

The small-cap stock hit a high of Rs 718.25 and a low of Rs 681 so far during the day. The stock hit a 52-week high of Rs 738.70 on 13 January 2015. The stock hit a 52-week low of Rs 421.10 on 14 July 2014.

HIL said that on 7 July 2015 the company has commenced commercial production of coloured steel sheets at its manufacturing facility in Wada, Maharashtra with an initial production capacity of 800 metric tonne (MT) per month further expanding its footprint in the building products Industry. The company sells AC roofing sheets under the brand name of "Charminar", AAC blocks, Sandwich panels and cPVC & uPVC pipes under the brand name of "Aerocon". The coloured steel sheets will also be sold under the brand name of "Charminar".

HIL's net profit surged 301.2% to Rs 12.84 crore on 16.4% rise in total income to Rs 277.29 crore in Q4 March 2015 over Q4 March 2014.

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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