Greenlam Industries rises as its arm gets nod to set up greenfield project in Andhra Pradesh
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Greenlam Industries is currently trading at Rs. 1699.10 up by 11.70 points or 0.69% from its previous closing of Rs. 1687.40 on the BSE.
The scrip opened at Rs. 1749.00 and has touched a high and low of Rs. 1764.00 and Rs. 1655.00 respectively. So far 7743 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 1,764.00 on 13-Dec-2021 and a 52 week low of Rs. 739.70 on 21-Dec-2020.
Last one week high and low of the scrip stood at Rs. 1764.00 and Rs. 1453.05 respectively. The current market cap of the company is Rs. 4122.61 crore.
The promoters holding in the company stood at 53.90%, while Institutions and Non-Institutions held 16.41% and 29.70% respectively.
Greenlam Industries’ wholly owned subsidiary -- Greenlam South (GSL) has received approval from board of directors to set up a greenfield project for manufacturing of Particle Board and allied products at Naidupeta, Nellore in Andhra Pradesh and to enhance the capacity of the greenfield laminate project being set-up at Naidupeta, Nellore in Andhra Pradesh from 1.5 million laminate sheets/board per annum to 3.5 million laminate sheets/board per annum. The Board of Directors of GSL at their meeting held on December 13, 2021, has approved the same.
Further, the Board of Directors of HG Industries (formerly Himalaya Granites), a subsidiary of Greenlam Industries, at their meeting held on December 13, 2021, has approved to set up a greenfield project for manufacturing of Plywood and allied products at Tindivanam, Tamil Nadu. The Board of Directors of HG Industries at their meeting held on December 13, 2021, has approved the same.
Greenlam Industries is one of the leading laminate manufacturers and Asian market leader in decorative laminates. It is a decorative Laminates manufacturer which ensures superior design, quality and systems.
