Asian Granito jumps on lining up mega expansion plan to set up manufacturing units in Gujarat
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Asian Granito India is currently trading at Rs. 108.90, up by 0.90 points or 0.83% from its previous closing of Rs. 108.00 on the BSE.
The scrip opened at Rs. 110.75 and has touched a high and low of Rs. 111.65 and Rs. 108.10 respectively. So far 44274 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 176.00 on 06-Oct-2021 and a 52 week low of Rs. 96.30 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 111.65 and Rs. 100.20 respectively. The current market cap of the company is Rs. 618.03 crore.
The promoters holding in the company stood at 26.12%, while Institutions and Non-Institutions held 0.86% and 73.02% respectively.
Asian Granito India (AGL) has lined up Mega Expansion Plan in Value Added Luxury Surfaces & Bathware Segments such as GVT Tiles, Sanitaryware and SPC Flooring segments through setting up new state-of-the-art manufacturing facilities at Morbi, Gujarat, under newly incorporated wholly owned subsidiaries. The company has filed draft papers (Draft Letter of Offer) for Rights Issue of equity shares to raise up to Rs 500 crores ($70 Million).
The company is also setting up one of the World’s largest Display Centres covering an area of approximately 1.5 lakh sq. feet at Morbi, Gujarat to showcase Group's entire product range under single roof. The new manufacturing facilities are expected to commence commercial operations in April 2023.
Asian Granito India is one of the top four Indian ceramic Companies engaged in the business of manufacturing, and trading of Ceramic Wall, Floor, Vitrified Tiles, Marble & Quartz Headquartered in Gujarat.
