HIL rose 2.38% to Rs 1,206 after the company announced commencement of production of CpVC, UpVC and SWR pipes at Thimmapur plant in Telangana on 15 November 2019.
The company has added additional capacities and commenced the production of its CpVC, UpVC and SWR (soil, waste & rain) pipes at its plant located at Thimmapur, Telangana. This is in line with HIL's intention to expand the plumbing solutions business with an extended portfolio. HIL continues to diversify and invest from its traditional lines of business and expects healthy traction in the piping solutions, green roofing solutions and flooring solutions segments. The announcement was made after trading hours on Friday, 15 November 2019.Meanwhile, the S&P BSE Sensex was down 30 points or 0.07% to 40,326.82. The stock was trading in the range of Rs 1,195.60 to Rs 1,235.45 so far during the day.
HIL's consolidated net profit fell 21.9% to Rs 40.63 crore on 53.9% surge in net sales to Rs 763.80 crore in Q2 September 2019 over Q2 September 2018.
HIL is engaged in the production and distribution of building products, thermal insulation products (refractories) and generation of wind power. The firm operates through three segments: building products, thermal insulation products (refractories) and wind power.
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