• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset Realasset
moneycontrol.com

Home » News » Business

Jan 11, 2013, 02.02 PM | Source: Moneycontrol.com

Hindusthan National Glass enters into JV with Trakya Cam

Hindusthan National Glass and Industries (HNGIL), the largest manufacturer of glass containers in India, fell nearly 2 percent on profit booking after rising as much as 2.9 percent in early trade as the company entered into joint venture agreement with Trakya Cam Sanayii AS of Turkey.

Like this story, share it with millions of investors on M3

Hindusthan National Glass enters into JV with Trakya Cam

Hindusthan National Glass and Industries (HNGIL), the largest manufacturer of glass containers in India, fell nearly 2 percent on profit booking after rising as much as 2.9 percent in early trade as the company entered into joint venture agreement with Trakya Cam Sanayii AS of Turkey.

Post Your Comments

Share Cancel

Hindusthan National Glass enters into JV with Trakya Cam
Hindusthan National Glass and Industries (HNGIL), the largest manufacturer of glass containers in India, fell nearly 2 percent on profit booking after rising as much as 2.9 percent in early trade as the company entered into joint venture agreement with Trakya Cam Sanayii AS of Turkey.

HNGIL has a production capacity of about 4300 tonnes per day through 13 furnaces and 58 production lines across seven plants in India.

The company said, "With this JVA, shareholding of the company and other promoters of HNG Float Glass (HNGFL) shall reduce from approximately 87.6 percent currently to approximately 45 percent and Trakya will become an equal shareholder by about 45 percent shareholding in HNGFL. IFC, Washington will continue to hold the balance stake (about 10 percent of increased paid up capital) in HNGFL. The shareholding of HNGIL, post the consumption of the proposed transaction, shall stand diluted from present 47.4 percent to about 15 percent in HNGFL."

At 13:38 hours IST, the stock fell 0.84 percent to Rs 201.05 amid heavy volumes on Bombay Stock Exchange.

In the previous trading session, the share rallied 2.94 percent to close at Rs 202.75.

Also Read
Infosys surprises with better-than-expected Q3
Check Out: Winners and losers of consumption theme
Bull's eye: Buy TVS Motor, Suzlon, CMC, short Infosys

Hind Nat Glass stock price

On February 11, 2016, Hindusthan National Glass and Industries closed at Rs 70.10, down Rs 3.9, or 5.27 percent. The 52-week high of the share was Rs 133.90 and the 52-week low was Rs 70.00.


The latest book value of the company is Rs 48.53 per share. At current value, the price-to-book value of the company was 1.44.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Hindusthan National Glass enters into JV with Trakya Cam

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login