This Ashish Dhawan-owned stock has zoomed 50% in four days

Share of HSIL hit a new high of Rs 350.20, zooming 50 per cent in four days on the BSE after the company announced divesting its building products division for Rs 630 crore.

Shares of packaging company HSIL hit a new high of Rs 350.20, up 9 per cent in Thursday’s intra-day trade. The stock has zoomed 50 per cent in four days on the BSE after the company announced divesting its building products division for Rs 630 crore.

The company said the cash proceeds will be utilized towards the pre-payment of existing bank borrowings, which will further strengthen the HSIL balance sheet and create capital to further expand its packaging business. Going forward, HSIL will completely focus on the expansion of its packaging business and capitalize on both organic and inorganic