Hindusthan National Glass surges 15% after decision to sell stake

It announced its decision to sell 11.23% of its stake in HNG Float Glass Ltd, a joint venture of the company with Turkey-based Trakya Cam Sanayii AS.

Jun 14, 2018 11:06 IST India Infoline News Service

Kolkata-based Hindusthan National Glass and Industries soared ~15% after it announced its decision to sell 11.23% of its stake in HNG Float Glass Ltd, which was a joint venture of the company with Turkey-based Trakya Cam Sanayii AS.

As per a BSE filing, Hindusthan National Glass stated that it has transferred 34.5mn equity shares at 129.7cr to its Turkish partner.

HNG Float Glass Ltd.’s total net worth as on March 31, 2018 was Rs42,154 lakh.

As per media reports, Hindusthan National Glass had reduced its holding in HNG Float Glass from 87% to 45% in 2013.

Hindusthan National Glass & Industries Ltd is currently trading at Rs89.30 up by Rs12.05 or 15.6% from its previous closing of Rs77.25 on the BSE.
The scrip opened at Rs80 and has touched a high and low of Rs91.90 and Rs79.25 respectively. So far 2,27,323 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs691.80cr.


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