Asian Granito India is currently trading at Rs. 287.50, up by 5.25 points or 1.86% from its previous closing of Rs. 282.25 on the BSE.
The scrip opened at Rs. 282.40 and has touched a high and low of Rs. 290.40 and Rs. 281.90 respectively. So far 121836 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 304.00 on 28-Sep-2016 and a 52 week low of Rs. 123.00 on 29-Feb-2016.
Last one week high and low of the scrip stood at Rs. 290.40 and Rs. 265.00 respectively. The current market cap of the company is Rs. 860.50 crore.
The promoters holding in the company stood at 28.16%, while institutions and non-institutions held 0.26% and 71.58% respectively.
Asian Granito India, one of country’s largest tiles companies is eyeing for a leadership position in flooring solution - Quartz stone. The company is investing Rs 20 crore in setting up a 3rd line of quartz stone facility at its Himmatnagar plant dedicated for exports.
Post expansion, company will be doubling the capacity of its Quartz stone to 5.28 lakh square meter per annum in FY 17-18 from existing 2.64 lakh square meter. The new expansion is likely to fetch additional sales of Rs 60 crore in FY 17-18. The target market for the new quartz plant will be counter tops and interiors (floor) in kitchen, Malls, airports, high end hotels and other places. Replacement of counter top is the largest market for engineered quartz in US.
The company’s current capacity of quartz stone stands at 800 square meter a day from its existing two lines which it plans to double to 1,600 square meter per day. The company is also launching 20 mm & 30 mm thickness slabs of quartz in the large format of 10.5 feet X 5.25 feet. The commercial production of the new range will start in the month of April 2017.
Asian Granito India is engaged in manufacturing of flooring solutions. It is one of the leading wall tile manufacturers in India. The company manufactures products such as wall tiles, vitrified tiles, ceramic floor tiles, marble and quartz stone and Aquart.