Hindusthan National Glass & Industries Share Price

Incorporated in the midforties, Hindustan National Glass Industries is the largest producer of glass containers. As a part of its diversification, it acquired mining rights in Rajasthan and an EOU status for manufacturing polished granite slabs and tiles. The major industries consuming its products are liquor, beer, soft drinks and cosmetics. The company came out with a rights issue in 199495. It increased the capacity of one of its furnaces by 22,000 tonnes to capitalise on the burgeoning packaging industry. Also, it installed online electronic inspection equipment on two pharmaceutical production lines to ensure production of consistent quality containers. The company is examining the possibility of 100% exportoriented polished granite projects. Glass bottles are exported to Bangladesh, Thailand, Hong Kong, Malayasia, Singapore, Srilanka, Tanzania, Nigeria and Taiwan. The company is negotiating with prospective buyers in the UK, Germany and the US, for export of bottles. HNGL has taken up expansioncummodernisation of its Rishra plant by installation of a new glass melting furnace with a production capacity of 300 MT per day at an estimated cost of Rs.35 crores. The plant was commissioned in July,2001.