Himadri Speciality rises on planning to expand speciality carbon black capacity in West Bengal
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Himadri Speciality Chemical is currently trading at Rs. 374.65, up by 2.50 points or 0.67% from its previous closing of Rs. 372.15 on the BSE.
The scrip opened at Rs. 378.95 and has touched a high and low of Rs. 382.60 and Rs. 366.25 respectively. So far 113688 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 399.00 on 08-Jan-2024 and a 52 week low of Rs. 100.81 on 27-Apr-2023.
Last one week high and low of the scrip stood at Rs. 385.10 and Rs. 328.00 respectively. The current market cap of the company is Rs. 18452.31 crore.
The promoters holding in the company stood at 50.29%, while Institutions and Non-Institutions held 7.25% and 42.46% respectively.
Himadri Speciality Chemical is planning to expand its speciality carbon black capacity in a brownfield expansion project in West Bengal, with an estimated investment of Rs 220 crore. The expansion is envisaged to meet the increasing demand from Europe amid an impending ban on Russian carbon black imports in the EU.
The expansion, scheduled to be operational within the next 18 months and located at Singur in the Hooghly district, will be funded through internal accruals. This additional capacity of 70,000 tonnes per annum will increase the company's speciality carbon black capacity to 1.3 lakh tonnes per annum, enhancing the cumulative capacity to 2.5 lakh tonnes from the current 1.8 lakh tones.
Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. The company has operations in India and caters to both domestic and international markets.
