Pidilite Ind to set up manufacturing plant in HP; files IEM with DIPP

The company aims to set up a manufacturing unit at Solan in Himachal Pradesh for water based synthetic adhesives.

Shares of Pidilite Industries are currently trading at Rs. 544, up by 0.10% on BSE.

The company aims to set up a manufacturing unit at Solan in Himachal Pradesh for water based synthetic adhesives. For the purpose, Pidilite has filed an IEM with the Department of Industrial Policy and Promotion (DIPP).

The scrip opened higher at Rs. 544.85 as against its previous close of Rs. 543.60. It hit a high and a low of Rs. 550 and Rs. 543 respectively. So far, 86,000 shares have changed hands on BSE.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 637.55 on 20-Mar-2015 and a 52 week low of Rs. 425 on 17-Dec-2014. Last one week high and low of the scrip stood at Rs. 550.8 and Rs. 521.05 respectively.

The promoters holding in the company stood at 69.73 % while Institutions and Non-Institutions held 19.68 % and 10.59 % respectively.

The stock is currently trading above its 200 DMA.