Himatsingka Seide gains after in-principle nod from Karnataka govt to expand Hassan facility

Himatsingka Seide rose 2.34% to Rs 80.80 at 9:47 IST on BSE after the company said that the Government of Karnataka has given its in-principle approval for a proposal to expand the company's Hassan facility with an investment of Rs 1325 crore.

The announcement was made before market hours today, 18 June 2015.

Meanwhile, the S&P BSE Sensex was up 236.07 points or 0.88% at 27,068.73.

On BSE, so far 25,000 shares were traded in the counter as against average daily volume of 22,663 shares in the past one quarter.

The stock hit a high of Rs 83.50 and a low of Rs 80.15 so far during the day.

On consolidated basis, Himatsingka Seide's net profit rose 124.3% to Rs 25.86 crore on 9.2% decline in net sales to Rs 446.51 crore in Q4 March 2015 over Q4 March 2014.

The Himatsingka Group is a vertically integrated home textile major with a global footprint. The Group focuses on the manufacture, retail and distribution of Home Textile products. On the manufacturing front, the Group operates amongst the largest capacities in the world for upholstery fabrics, drapery fabrics and bed linen products.

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