Time Technoplast rose 0.79% at Rs 146.35 at 09:21 IST on BSE after the company announced the launch of a new generation multilayer pipes for power / communication cable ducts.
The announcement was made after market hours yesterday, 7 June 2018.Meanwhile, the BSE Sensex was down 84.93 points, or 0.24%, to 35,378.15.
On BSE, so far 6,767 shares were traded in the counter as against an average daily volume of 57,000 shares in the past two weeks. The stock hit a high of Rs 148.80 and hit a low of Rs 143.50 so far during the day. The stock had hit a record high of Rs 232.60 on 9 January 2018. The stock had hit a 52-week low of Rs 116.40 on 17 May 2018.
The mid-cap polymer products maker has an equity capital of Rs 22.61 crore. Face value per share is Re 1.
Time Technoplast announced the launch of a new generation multilayer pipes for power / communication cable ducts with silicone in-lining. It has also developed associated components to offer as a complete package. First order for this application has been finalized by EPC contractors. The company has been able to bag this order for 175 kms of power cable ducts and its accessories (approx. Rs 40 crore).
On a consolidated basis, Time Technoplast's net profit rose 28.57% to Rs 55.35 crore on 16.37% increase in net sales to Rs 942.70 crore in Q4 March 2018 over Q4 March 2017.
Time Technoplast is a technology based innovative polymer product company.
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