Himadri Speciality Chemical shares hit 52-week high; here is why
At around 10:37 a.m., Himadri Speciality Chemical shares were up 4.44 per cent or Rs 12.9, at Rs 303.6 apiece on BSE. The market capitalisation of the company stood at Rs 13,359.09 crore at around the same time.
![Himadri Speciality Chemical shares hit 52-week high; here is why](https://cdn.zeebiz.com/sites/default/files/2023/12/06/271623-himadri-speciality-chemical.jpg?im=FitAndFill=(1200,900))
Himadri Speciality Chemical shares on Wednesday, December 6, rose over 5 per cent and hit a 52-week high on the BSE. The stock rallied after the company announced the setting up of a manufacturing facility to produce lithium-ion battery (LiB) components in phases.
At around 10:37 a.m., Himadri Speciality Chemical shares were up 4.44 per cent or Rs 12.9, at Rs 303.6 apiece on BSE. The market capitalisation of the company stood at Rs 13,359.09 crore at around the same time.
The speciality chemical company announced on Wednesday through a filing that the Board had approved setting up the manufacturing facility for the production of lithium-ion battery (LiB) components with a total annual production capacity of 200,000 MT.
The project is estimated at Rs. 4,800 crore and will be set up in phases over five to six years. This investment will be made largely from internal accruals and a balance from debt.
According to Himadri Speciality Chemical, the expected benefit of the setup of the facility will be:
-Indigenisation of LIB raw materials for global and India’s EV and ESS.
-Enhancing stakeholders' value by participating in a sunrise sector with a strong growth trajectory.
-Promoting sustainability by reducing dependency on fossil fuels and preserving natural resources.
Himadri Speciality Chemical share price: Past performance
Since January 2023, Himadri Speciality Chemical shares have gained over 203 per cent, a sharp rise against the Nifty 50's over 14 per cent rise.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-this-tata-group-stock-turned-every-rs-10000-of-investment-into-rs-11300-in-just-a-week-investors-richer-by-42722-crore-rupees-any-guesses-share-market-news-304023](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307143-tradingpexels.jpg?itok=rw4R7EfH)
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
06:17 PM IST