Asian Granito surges by 5 per cent on capacity addition

The share of tiles manufacturing company Asian Granito surged by over 5 per cent on the bourses in Thursday’s trade as the company announced that it has entered a joint venture with a local partner in order to establish 10,000 meters per day of glaze vitrified tile manufacturing facility in Andhra Pradesh.

Earlier, the company had a total glaze vitrified tile manufacturing capacity of 22,000 sq meters per day. The company’s value added products including glaze vitrified tile and double charge tiles contribute to about 45 per cent of its total revenue.

On Thursday, the stock hit an intraday high of Rs. 496 per share and an intraday low of Rs. 468.95 per share on BSE, respectively. The stock had touched its 52-week high of Rs. 617 per share on January 15, 2018 and its 52-week low of Rs. 302 per share on March 15, 2017 on BSE, respectively.

At 1253 hours IST, the stock was trading at Rs. 475.90 per share, higher by 1.07 per cent on BSE on Thursday. Meanwhile, S&P BSE Sensex was trading at 33,790.31 level, higher by 0.13 per cent and NSE Nifty50 was trading at was trading at 10,391.85 level, lower by 0.18 per cent.