Himadri Speciality Chemical stock rises over 3 pc; hit 52-week high level

Shares of Himadri Speciality Chemical rose more than 3 per cent on Wednesday after the company said it will invest Rs 4,800 crore over the next 5-6 years to set up a manufacturing facility.

The stock of the company gained 3.58 per cent to close at Rs 301.10 apiece on the BSE, while it climbed 3.35 per cent to finish at Rs 300.55 per piece on the NSE.

During the day, shares of Himadri Speciality Chemical hit its 52-week high on BSE and NSE at Rs 307.10 and 307, respectively.

On the volume front, 56.31 lakh shares were traded on the NSE, while 3.02 lakh shares were traded on the BSE, during the day.

Meanwhile, the 30-share BSE Sensex surged 357.59 points or 0.52 per cent higher to settle at a new peak of 69,653.73, The broader index Nifty also climbed 82.60 points, or 0.40 per cent, to hit its fresh peak of 20,937.70.

In a regulatory filing on Wednesday, Himadri Speciality Chemical Ltd said it will invest Rs 4,800 crore over the next 5-6 years to set up a manufacturing facility for Lithium-ion battery components.

The investment will be made largely from internal accruals and the balance from debt, it said.

Kolkata-based Himadri Speciality Chemical manufactures coal tar pitch, carbon black, battery materials, specialty oil and refined naphthalene, among others.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)