This newly listed SME stock has zoomed 107% against its issue price
The stock price of Technopack Polymers moved 16 per cent higher to Rs 114 on the BSE in Wednesday’s intra-day trade. This was its highest level since its listing earlier this month. The company made its market debut on November 16, 2022.
With today’s rally, the stock price of Technopack Polymers has more-than-doubled or zoomed 107 per cent against its issue price of Rs 55 per share. At 11:15 am; it was trading 11 per cent higher at Rs 109.70 as compared to a marginal 0.07 per cent gain in the S&P BSE Sensex.
Technopack Polymers trades in the SME segment under the “M” group on the BSE. The trading, clearing and settlement in the SME segment is done on a T+2 basis. Trades done in BSE SME scrips are required to be compulsorily settled in demat mode.
Technopack is a leading manufacturer, supplier of plastic and paper products for FMCG packaging. The company is engaged in manufacturing HDPE Caps, PET (polyethylene terephthalate) Preforms, and a range of high-quality plastic packaging solutions.
On November 25, Technopack Polymers announced that it has ordered Sacmi 26/22 beverages cap production line with a capacity of 60,000 cap/hour from Sacmi Imola S.C. The total project cost is around Rs 10.88 crore.
Sacmi Lab developed cost effective solution for Indian packaged drinking water market that is 26/22 GME 30.28 cap. It is light weight solution with saving of 35 per cent HOPE plastic. In India 26/22 cap is the first production line from Sacmi Imola S.C, the company said.
Plastic packaging has become indispensable to the world. A global trend has emerged to produce hi-tech, sophisticated and eye-catching plastic packaging. PET has recorded the fastest growth rate in the global plastics market and this is evident from the revolution witnessed in the fields of mineral water, beverages, edible oil, detergents etc. PET excels by its inherent values like strength, safety, cost effectiveness and being lightweight, unbreakable and recyclable. Today, the food and beverages industry is increasingly using PET to replace glass and other materials, Technopack had said in its DRHP.