Gujarat Heavy Chemicals rises on plan to focus on home textiles business

12 Apr 2013 Evaluate

Gujarat Heavy Chemicals (GHCL) is currently trading at Rs. 35.70, up by 0.20 points or 0.56% from its previous closing of Rs. 35.50 on the BSE.

The scrip opened at Rs. 35.55 and has touched a high and low of Rs. 35.70 and Rs. 35.50 respectively. So far 6050 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.20 on 23-Oct-2012 and a 52 week low of Rs. 33.55 on 17-Apr-2012.

Last one week high and low of the scrip stood at Rs. 36.35 and Rs. 35.45 respectively. The current market cap of the company is Rs. 357.07 crore.

The promoters holding in the company stood at 17.60% while Institutions and Non-Institutions held 12.64% and 69.76% respectively.

GHCL has decided to focus on the home textiles and is planning to raise its revenues from the division. The entity has taken this decision after considering its last year’s revenue from the segment, which increased from Rs 276 crore to Rs 530 crore last year.

The company has outlined the plans to increase the revenue share of the home textiles business from 40% to around 50% of the total turnover in the financial year 2013-14. It has in-house design studios in New York, the UK and India. The studio designs fabrics for bed linen, curtains and cotton yarn. The company has already tied up with Kishore Biyani's Future Group to supply home textile products.

GHCL is a leading producer of synthetic soda ash in India with an installed capacity of 8.5 lakh Tonnes Per Annum (TPA) located in Gujarat. Over the years, it has diversified into yarn and home textile products. While its yarn division, with an installed capacity of 1,48,280 spindles, is located in Tamil Nadu, the home textile plant with a weaving capacity of 25,000 meter per day and processing capacity of 1 lakh meter per day for home-textiles (bed sheets and curtain panels) is located at Vapi (Gujarat). 

GHCL Share Price

567.10 10.50 (1.89%)
25-Nov-2024 09:59 View Price Chart
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