Greenply Industries climbs on getting nod for incorporation of wholly owned subsidiary

Greenply Industries is currently trading at Rs. 206.00, up by 5.30 points or 2.64% from its previous closing of Rs. 200.70 on the BSE.

The scrip opened at Rs. 203.75 and has touched a high and low of Rs. 209.20 and Rs. 200.20 respectively. So far 37238 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 223.00 on 04-May-2021 and a 52 week low of Rs. 73.55 on 21-Oct-2020.

Last one week high and low of the scrip stood at Rs. 223.00 and Rs. 197.75 respectively. The current market cap of the company is Rs. 2560.46 crore.

The promoters holding in the company stood at 52.20%, while Institutions and Non-Institutions held 30.15% and 17.65% respectively.

Greenply Industries’ Board has approved incorporation of a wholly owned subsidiary of the company in India for manufacturing of plywood and its allied products. The Board also approved setting-up of a new unit in Hardoi, Uttar Pradesh, for manufacturing of plywood and its allied products by the said proposed wholly owned subsidiary. The Board of Directors of the Company at their meeting held on May 10, 2021, approved the same.

Greenply Industries is primarily involved in manufacturing of plywood and trading of plywood and allied products.