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Hanil Era Textiles lists on the NSE
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| Mumbai, July 12, 2005: Hanil Era Textiles Ltd. (Hanil Era), India’s largest exporter of acrylic yarn, got listed on the National Stock Exchange (NSE) yesterday. The stock symbol at the NSE is HANILERA. The stock opened at Rs 46.50, which was also the high for the day. After seeing a low of Rs 41, the stock finally closed at Rs 42. The weighted average price for Hanil Era during the day on the NSE was Rs 42.29. The stock garnered volumes of 148,020 shares on the NSE on its first day of trading. Following the recent launch of its expansion-cum-modernization programme, the Rs 120-crore textile company has been a scrip in demand at the BSE. |
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| The equity shares of Hanil Era are being traded on the NSE in the Normal Market segment (Rolling Settlement) in compulsory demat for all investors. The market lot is of 1 share. |
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Speaking on this development, R K Agarwal, Chairman, Hanil Era Textiles said, “It is a matter of great pride to have the company trading on the NSE again. We hope to reach out to a larger investor base, thereby providing better liquidity to the stock.” |
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| Post MFTA (Multi-Fibre Trade Agreement) regime, Hanil Era has been capitalizing on the open market scenario. To effectively cater to an expanding global clientele and to offer better value addition, the company embarked on a massive growth path. It laid down plans to forward integrate into weaving by setting up 108 looms whilst modernizing its spinning competence (80,000 spindles) and instituting processing and dyeing facilities at its plant in Patalganga. |
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| The modernization exercise is complete while the weaving and dyeing facilities should be ready by the end of August and September 2005 respectively. “We intend to add a small capacity to manufacture terry towels to complete our product portfolio under the home furnishing range,” says the Chairman. |
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| Hanil Era is scheduled to declare its audited full-year results (2004-05) on 20th July 2005. |
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| About Hanil Era Textiles Ltd |
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| Established in 1992, Hanil Era Textiles Ltd. (BSE Code: 500177, NSE Symbol: HANILERA) is a 100% EOU that was floated as a JV between New Era Fabrics Ltd. of Matunga (Mumbai) and Hanil Synthetics Ltd. of South Korea. It went public with a NCD issue in 1993. Hanil Era has a yarn manufacturing capacity at Patalganga in Maharashtra, where it makes worsted, cotton and blended yarn with a total spindelage of 80,000. It has its own power generation unit with a capacity of 16.5 MW and it supplies excess power to the MSEB grid. It has recently set up an ethanol dehydration plant with a capacity of 200 KL/day to supply pure ethanol to chemical units as well as oil companies. |
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