Time Technoplast moves up on bagging order Rs 115 crore from Buyer in Europe

19 Feb 2019

Time Technoplast is currently trading at Rs. 85.60, up by 1.50 points or 1.78% from its previous closing of Rs. 84.10 on the BSE.

The scrip opened at Rs. 84.75 and has touched a high and low of Rs. 87.25 and Rs. 83.80 respectively. So far 13788 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 192.00 on 19-Feb-2018 and a 52 week low of Rs. 76.20 on 12-Feb-2019.

Last one week high and low of the scrip stood at Rs. 94.00 and Rs. 77.80 respectively. The current market cap of the company is Rs. 1940.34 crore.

The promoters holding in the company stood at 51.18%, while Institutions and Non-Institutions held 30.87% and 17.95% respectively.

Time Technoplast has received a prestigious order from Buyer in Europe for export of 500,000 Composite Cylinders with a total value of over Rs 115 crore. This order is planned to be executed by end of Calendar Year 2019. The company has wide range of Composite Cylinders in its product portfolio (2kg 722kg capacity) duly certified and approved under ISO and European standards. The company is already exporting these Composite Cylinders to over 28 countries across the world. Composite Cylinder form part of company’s value add business.

The Buyer has advised that the business potential is much larger and they would consider placing order for additional quantities as the deliveries against the present order gets underway. Discussions are also on for immediate purchase of Composite Cylinders of other denominations for different applications.

Time Technoplast is a leading technology based innovative polymer Product Company.

Related Time Technoplast Ltd. Links:

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Puchho Befikar
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