HSIL gains as company eyes Rs 6,000 crore revenue

NEW DELHI: Shares of sanitaryware manufacturer HSIL advanced in Monday's trade on reports that the company is eyeing over twofold growth to be Rs 6,000 crore company in the next five years.

Following the development, the stock gained 1.12 per cent to Rs 379.50 on BSE. It eventually closed at Rs 377.90, up 0.69 per cent. It opened at Rs 384.30 and touched an intraday high and low of Rs 385 and Rs 376 respectively.

"With the projects that we already have in the pipeline plus we are putting up two new plants, with those plants getting commissioned, I think we should be closer to Rs 5,500 to 6,000 crore in revenue in five years' time," HSIL Vice Chairman and MD Sandip told PTI.

Promoters held 48.43 per cent stake in the company as of June 2017.

The scrip touched its fresh 52-week high of Rs 424.75 on July 6, 2017 and its 52-week low of Rs 271.65 on January 4, 2017.