Pokarna surges 16% in a weak market; hits over 3-year high



shares, on Thursday, surged 16 per cent and hit an over three-year high of Rs 266.50 in intra-day trade on the BSE after Engineered Stone Limited (PESL), a wholly-owned subsidiary of the company, announced the commencement of commercial operations of its second state-of-the-art quartz surface manufacturing facility in the country. The new plant is located at Mekaguda Village in Telangana, India.


The stock of the construction materials company was trading at its highest level since January 2018. It hit an all-time high of Rs 323 on April 2017. At 09:32 am, it was trading 13 per cent higher at Rs 259, as compared to 0.68 per cent decline in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined around 330,000 equity shares changing hands on the NSE and BSE.



“With a built up area of over 600,000 square-feet, PESL’s Unit 2 is one of the world’s largest quartz surfaces manufacturing facilities, equipped with most advanced ‘Bretonstone’ technologies, from Breton SpA of Italy, to produce Super Jumbo, Jumbo and Regular size slabs,” said in an exchange filing.


The management said this milestone will further increase PESL’s capabilities to please its vast customer base across North America, Europe, Middle East, India; from major existing to fast-growing new


Exported globally under the brand name of Quantra Quartz, PESL’s surfaces and fabricated products range from sinks and basins to shower trays and vanities and are now being launched in India, the company said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link