HP Adhesives surges on getting MPCB consent to operate new plant
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HP Adhesives is currently trading at Rs. 395.50, up by 12.50 points or 3.26% from its previous closing of Rs. 383.00 on the BSE.
The scrip opened at Rs. 390.00 and has touched a high and low of Rs. 399.50 and Rs. 390.00 respectively. So far 5214 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 505.00 on 10-Jan-2022 and a 52 week low of Rs. 319.00 on 27-Dec-2021.
Last one week high and low of the scrip stood at Rs. 390.50 and Rs. 355.00 respectively. The current market cap of the company is Rs. 703.76 crore.
The promoters holding in the company stood at 71.35%, while Institutions and Non-Institutions held 11.79% and 16.87% respectively.
HP Adhesives has been granted Consent to Operate dated March 09, 2022 by Maharashtra Pollution Control Board (MPCB) for expansion with amalgamation of existing consent. This is applicable for existing unit as well as new manufacturing unit in the adjacent plot (Existing unit at S. No. 7/14 and New unit at S. No. 7/18, Village Narangi, Taluka Khalapur, District Raigad, Maharashtra State).
The consent to Operate is a key permission to commission operations at new manufacturing unit as well as operate expanded capacity at existing unit. This will contribute to increase in total production capacity.
HP Adhesives manufactures a wide range of consumer adhesives and sealants products such as PVC, solvent cement, synthetic rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants, and PVC pipe lubricant.
