Himadri Speciality Chemical shares hit 52-week high; here is why

Himadri Speciality Chemical shares on Wednesday, December 6, rose over 5 per cent and hit a 52-week high on the BSE. The stock rallied after the company announced the setting up of a manufacturing facility to produce lithium-ion battery (LiB) components in phases.

At around 10:37 a.m., Himadri Speciality Chemical shares were up 4.44 per cent or Rs 12.9, at Rs 303.6 apiece on BSE. The market capitalisation of the company stood at Rs 13,359.09 crore at around the same time.

The speciality chemical company announced on Wednesday through a filing that the Board had approved setting up the manufacturing facility for the production of lithium-ion battery (LiB) components with a total annual production capacity of 200,000 MT.

The project is estimated at Rs. 4,800 crore and will be set up in phases over five to six years. This investment will be made largely from internal accruals and a balance from debt.

According to Himadri Speciality Chemical, the expected benefit of the setup of the facility will be:

-Indigenisation of LIB raw materials for global and India’s EV and ESS.

-Enhancing stakeholders' value by participating in a sunrise sector with a strong growth trajectory.

-Promoting sustainability by reducing dependency on fossil fuels and preserving natural resources.

Himadri Speciality Chemical share price: Past performance 

Since January 2023, Himadri Speciality Chemical shares have gained over 203 per cent, a sharp rise against the Nifty 50's over 14 per cent rise. 

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