Shares of Himadri Speciality Chemical added 4 percent in the early trade on Thursday as the company will be investing Rs 1000 crore to expand its carbon black business.

The company will be setting up new carbon black lines in its existing integrated plant in Mahistikry, West Bengal for producing specialty carbon black.

Anurag Choudhary, CEO, Himadri Specialty Chemical said, "Now with an investment of Rs 1000 crore towards our new product lines in Mahistikry, West Bengal we in due course would introduce the entire range of specialty black carbon, which is a highly technical product with significant entry barriers and currently dominated by only a handful of global players."

The company has already introduced10 grades in the last 1.5 years in domestic and global markets and will now be expanding their business in North America, Europe, South East Asia and Middle East Markets.

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