Acrysil hit an upper circuit of 5% at Rs 325.20 after the company said that it has commenced dispatches of quartz kitchen sinks to IKEA Supply AG.
On 20 August 2020, the company had entered into strategic partnership with IKEA Supply AG (Switzerland) for manufacturing and supply of composite quartz kitchen sinks for their global requirement.
Commenting on the same, Chirag Parekh, chairman & managing director, Acrysil, said: Supply commencement to IKEA further adds to our already existing strong order books. The capacity expansions taken up by the company will help to cater to the demand in both international and domestic market.
Acrysil is engaged in manufacturing of composite quartz sinks. The company has a manufacturing plant at Bhavnagar, Gujarat and has a total installed capacity of 600,000 sinks per annum as on date. It deals in complete range of built-in kitchen appliances under Carysil brand and also offers bathroom solutions under the Sternhagen brand.
HIL rose 1.12% to Rs 3,075 after the company said it has commercialized production of Birla Aerocon Flat Board at its plant at Faridabad in Haryana from Wednesday, 10 March 2021.The company said that there is no additional capacity installed. The product is manufactured on the existing lines of production. The firm said that this augments its established presence in the building solutions segment. An expanded product range together with well-targeted distribution set-up and a solutions centric approach positions the company attractively as the customers step up their engagement with the business.
On the technical front, the stock s RSI (relative strength index) stood at 60.685. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.