Shares of HSIL rallied 10.2 per cent to Rs 74.8 in an in any other case weak market on the BSE on Thursday after the corporate mentioned it’ll consider share buyback subsequent week. Today’s intra-day excessive was the stock’s contemporary 52-week excessive, which surpassed its earlier excessive of Rs 71.35 hit on September 16, 2020.
At 9:53 am, the stock was buying and selling 7 per cent increased at Rs 72.55 on the BSE, as in opposition to 0.31 per cent dip within the S&P BSE Sensex. So far within the monetary yr 2020-21, the stock has surged 73 per cent on the BSE as in opposition to 33.37 per cent acquire within the S&P BSE Sensex until Wednesday, BSE knowledge present.
“Meeting of the Board of Directors of the Company will be held on Monday, September 21, 2020 to consider the proposal of buyback of the fully paid-up equity shares of the Company,” the comapny mentioned in an change submitting.
The Gurugram-based firm had posted a internet lack of Rs 17.35 crore for April-June quarter of FY21, as in opposition to Rs 14.34 crore revenue within the corresponding quarter of the earlier fiscal. Revenue from operation, in the meantime, got here in at Rs 251.55 crore, down from Rs 439 crore in Q1FY20.
“During lock down period container glass manufacturing facilities continued its operations at lower capacity utilisation and other plants of packaging product division manufacturing PET bottles, Security caps and clowre partly resumed operations at lower capacity during April and May 2020 months. Post lockdown period, the operations at various building products manufacturing facilities also partly resumed operations at lower capacities except sanltaryware plant at Bibinagar. Telangana which is expected to resume operations around middle of August ?02.0. Even after the lodcdown perlod, partial/frequent loclcdowns and restrictions in various states continued to adversely impact safes, related logistics and operations during the quarter,” the corporate mentioned in a press release.