World’s largest air cooler company Symphony has entered an elite league as its market capitalisation crossed the Rs. 100 billion mark for the first time on Thursday. Its market capitalisation touched a high of Rs. 101.08 billion intra-day and on closing basis it was Rs. 100.40 billion.

Speaking about this momentous event in the company’s history, Achal Bakeri, Chairman and Managing Director of Symphony said, "Symphony has for the first time ever crossed the Rs. 100 billion market capitalisation mark. This is a proud day for all of us at Symphony and we will continue to reward all our stakeholders with even better results on all fronts in the coming years. The residential air cooler market in India and globally has potential to grow much more. We have only scratched the industrial and commercial air cooler market in India and we see a significant contribution to our revenues from this market in the coming decade."

"This event also coincides with Symphony moving to its new head-office building. The building is situated off SG Highway in Ahmedabad, is spread over 6 levels and is spread over 60,000 square feet area. This is a state-of-the-art building which can accommodate up to 500 head-office staff. It is designed as per Green Building guidelines and Symphony is in the process of applying for Leadership in Energy & Environment Design (LEED) building certification developed by US Green Building Council," said Bakeri.

Shares of the company gained Rs 59.3, or 2.07%, to trade at  Rs 2,929.85.  The total volume of shares traded  was  1,407 at the BSE (10.15 a.m., Friday).