Rushil Decor shares jump 15% in two sessions; here's why
Shares of Rushil Decor surged more than 7 per cent to Rs 406.7 on Friday, with a total market capitalization close to Rs 1,100 crore.
- Nov 24, 2023,
- Updated Nov 24, 2023 1:59 PM IST
Shares of Rushil Finance extended their gains for another trading session on Friday. The stock has gained more than 15 per cent in the last two sessions since the company has received IGBC green building certification.
In an exchange filing on Wednesday, Rushil Decor said that it has received IGBC Green Building certification for its MDF manufacturing unit at Visakhapatnam, Andhra Pradesh. "The Government of Andhra Pradesh has extended an incentive of reimbursement of 50 per cent cost incurred towards capital expenditure with components for green measures," it said.
Rushil Decor's Visakhapatnam plant has taken several eco-friendly measures including rainwater harvesting system, waste water treatment, energy conservation, using recycled and environment friendly materials, reducing carbon footprints among others to achieve this green certification, said the company in the exchange filings. Shares of Rushil Decor surged more than 7 per cent to Rs 406.7 on Friday, with a total market capitalization close to Rs 1,100 crore. However, the stock had settled Rs 378.95 on Thursday, up another 7 per cent. The stock has rallied about 15 per cent in the last two trading sessions. Spread across 26 acres of land, Rushil's plant has achieved 40 per cent reduction in energy consumption and 30 per cent reduction in water consumption during project time. More than 32 per cent of the plant site is covered with vegetation - 50 per cent of them are drought tolerant species, said the company. "The energy cost savings of 64.58 per cent over and above building energy standards baseline during project time and 100 per cent wastewater treated at its sewage treatment plant," it added.
Founded in 1993, Rushil Décor, is engaged in modern interior infrastructure, and eco-friendly, composite wood panels. The Ahmedabad-based Laminate and MDF panel boards industry player, has a global footprint in more than 50 countries under its flagship brand named 'VIR'.
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Shares of Rushil Finance extended their gains for another trading session on Friday. The stock has gained more than 15 per cent in the last two sessions since the company has received IGBC green building certification.
In an exchange filing on Wednesday, Rushil Decor said that it has received IGBC Green Building certification for its MDF manufacturing unit at Visakhapatnam, Andhra Pradesh. "The Government of Andhra Pradesh has extended an incentive of reimbursement of 50 per cent cost incurred towards capital expenditure with components for green measures," it said.
Rushil Decor's Visakhapatnam plant has taken several eco-friendly measures including rainwater harvesting system, waste water treatment, energy conservation, using recycled and environment friendly materials, reducing carbon footprints among others to achieve this green certification, said the company in the exchange filings. Shares of Rushil Decor surged more than 7 per cent to Rs 406.7 on Friday, with a total market capitalization close to Rs 1,100 crore. However, the stock had settled Rs 378.95 on Thursday, up another 7 per cent. The stock has rallied about 15 per cent in the last two trading sessions. Spread across 26 acres of land, Rushil's plant has achieved 40 per cent reduction in energy consumption and 30 per cent reduction in water consumption during project time. More than 32 per cent of the plant site is covered with vegetation - 50 per cent of them are drought tolerant species, said the company. "The energy cost savings of 64.58 per cent over and above building energy standards baseline during project time and 100 per cent wastewater treated at its sewage treatment plant," it added.
Founded in 1993, Rushil Décor, is engaged in modern interior infrastructure, and eco-friendly, composite wood panels. The Ahmedabad-based Laminate and MDF panel boards industry player, has a global footprint in more than 50 countries under its flagship brand named 'VIR'.
Also read: Flair Writing IPO subscribed 14.9 times on Day 3 so far; issue closes today
Also read: Hot stocks on November 24: Suzlon Energy, YES Bank, Elecon Engineering, Paytm and more
Also read: Stock recommendations for November 24, 2023: CDSL, Bajaj Auto and Star Health