Hind Rectifiers shines on starting commercial production at new plant in Nashik!

Shares of Hind Rectifiers Limited jumped more than 14% in the morning trade.

Commercial Production at New Manufacturing Plant

Hind Rectifiers has started commercial production at a new manufacturing plant situated at Sinnar, Nashik, Maharashtra from March 9, 2023. The company has constructed around 12,900 square meters at the Sinnar plant. The benefits of these new production lines at Sinnar will however be availed in the following years from 2023-24 onwards.

The company continues to focus to expand this product range by way of developing new products in-house. This development is in line with Company’s commitment and promises made in the past. This Commercial Production will generate additional revenue for the company.

Share price movement of Hind Rectifiers Limited 

Today, the stock opened at Rs 199.10, with a high and low of Rs 227.30 and Rs 199.10. The stock is currently trading at Rs 223, up by 14.07%.

In the last 6 months, the shares of the company have given about 8% returns and on a YTD basis, the stock has given about -1% returns.

The stock has a 52-week high of Rs 268 and a 52-week low of Rs 152.90. The company has a ROCE of 10.1% with a market capitalisation of Rs 368 crore.

Company profile 

Hind Rectifiers Ltd.(Hirect) was founded in 1958, in collaboration with Westinghouse, Brake & Signal, U.K. Hind Rectifiers Ltd has a long-standing tradition and experience in developing, designing, manufacturing and marketing Power Semiconductors, Power Electronic Equipment and Railway Transportation Equipment.

During this period Hirect has established considerable expertise in its area of activity and caters to a wide range of applications such as Electronics, Railway Transportation, Power, Telecommunication and core sector industries like steel, non-ferrous metals, cement, chemicals, metal finishing and a host of other industries.