Greenply rises over 4% on acquisition

MUMBAI: Greenply Industries Ltd Tuesday unveiled plans to acquire two privately held companies Galaxy Decor and Platinum Veneers engaged in manufacturing plywood and allied products.

Greenply also plans to set up, medium density fibre-board manufacturing line at its existing unit at Pantnagar, Uttarakhand and new laminate unit in Himachal Pradesh.

Reacting to the positive development, Greenply shares rose 4.19 per cent to Rs 260. At 12:48 pm, the BSE counter clocked a volume of 14,185 against two-week average of 58,131 shares.