Hindware owner HSIL Ltd hits over 1-yr high on share buyback proposal

AGI Greenpac

17/09/2020 07:09

** Shares of sanitaryware maker  HSNT.NS  rise as much as
10.5% to 75 rupees, their highest since June 10, 2019
    ** Gurgaon, Haryana-based co on Wednesday said it will
consider buyback of equity shares at a board meeting on Sept. 21
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    ** HSIL, known mainly for its brand, Hindware, makes
closets, washbasins, bathroom fittings and kitchen appliances
    ** HSIL in July posted 173.5 mln rupees net loss for its
June-qtr vs profit of 143.4 mln rupees a year earlier
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    ** About 1.7 mln shares change hands, ~4x 30-day avg of
434,307 shares
    ** Co shares are up 39.61% so far this year, as of last
close, and have rallied ~129% since touching a 6-yr low in April

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))