Greenply ties-up with Nemani Panels

Greenply Industries has entered into an agreement for an investment of Rs. 1.80 crore, i.e., 30 per cent in the equity share capital of Nemani Panels. Shares were trading at 0.36 per cent higher in the morning session. 

Nemani Panels is a newly incorporated company for setting up a manufacturing unit of Plywood and allied products at Bareilly, promoted by Bareilly Plyboards, an existing company manufacturing and selling Plywood products. 

Greenply Industries is engaged in manufacturing of plywood, laminates, decorative veneers, particle boards and Prelam particle boards. The March 2019 quarter revenue stood at Rs. 5,161.66 million, up 18.08 per cent as compared to Rs. 4,371.33 million during the corresponding quarter last year. 

On Thursday, the shares of Greenply Industries opened at Rs. 166 against Wednesday’s close of Rs. 165.40. At 10:05 hours, the stock was trading at Rs. 166 per share, 0.36 per cent higher than the previous close. The stock in a period of 1 month has risen by 15 per cent. The 52-week high stood at Rs. 250 and 52-week low was at Rs. 110 per share on the BSE.