Heranba Industries gains on acquisition of industrial shed

Heranba Industries Limited, one of the leading agrochemical companies in the country, announced this morning that it has acquired an industrial shed in Gujarat.  

The acquired shed is adjacent to manufacturing unit II owned by the company. It has an area of 2,702 sq. metres and is located in the district of Valsad.  

Besides, the company was planning to acquire additional assets adjacent to this unit-II to enhance its production capacity as well as upgrade its environmental pollution control facilities.  

R K Shetty, Managing Director of the company, commented on this development by saying, “This acquisition will enable the company to enhance production capacity as well as upgrade the environmental pollution control facilities of Unit II. We will renovate and merge this industrial shed with Unit II.” He further said that necessary applications will be filed with the relevant authorities for obtaining their approval for the purposes described above.  

At 2.36 pm today, the share price of Heranba Industries Limited was trading at Rs 669.00 on BSE, which was an increase of 1.40 per cent over its closing price of Rs 659.75 on Friday.