Styrolution ABS gains on inaugurating new Absolan line in Gujarat, India

Styrolution ABS (India) is currently trading at Rs. 446.45, up by 11.55 points or 2.66% from its previous closing of Rs. 434.90 on the BSE. The scrip opened at Rs. 435.00 and has touched a high and low of Rs. 450.00 and Rs. 435.00 respectively. So far 253 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 544.85 on 17-May-2013 and a 52 week low of Rs. 334.05 on 29-Nov-2013. Last one week high and low of the scrip stood at Rs. 468.00 and Rs. 434.00 respectively. The current market cap of the company is Rs. 785.11 crore. The promoters holding in the company stood at 75.00 % while Institutions and Non-Institutions held 11.05 % and 13.95 % respectively. Styrolution, the global leader in the styrenics industry, has inaugurated a new line for the high performance styrenic specialty product Absolan at its Katol site located in Gujarat, India. The new 40,000 mt line intends to meet the growing demand for Absolan across key growth industries in India. Absolan customers will benefit from improved local service and greater security of supply. The move to increase domestic supply of styrenic specialties in India aligns with Styrolution’s Triple Shift growth strategy, which puts a greater focus on higher growth industries, styrenic specialties and ABS Standard, and emerging markets. Styrolution ABS is engaged in manufacturing and selling acrylonitrile-butadiene-styrene and styrene-acrylonitrile and other products to industries, such as consumer durables, automobiles, business machines, telecommunications, electronics, etc.