Wim Plast is trading higher by 5.3% at Rs 385 in noon trades in otherwise weak market on back of heavy volumes. The stock opened at Rs 365 and hit a record high of Rs 394 on the Bombay Stock Exchange (BSE). Total 48,494 shares have changed hands on the counter so far against less than 10,000 shares that were traded daily in past two weeks on the BSE.
The company plastic moulded furniture manufacturer with a wide range of household plastic moulded products with the brand name “Cello” is among the best performers in 2012. The stock has rallied 123% so far in the current calendar year against 24% rise in broader index BSE-500.
WIm Plast had reported a healthy 53% year-on-year growth in net profit at Rs 6.52 crore for the first quarter ended June 2012 on back of strong operational income. The company is planning capital expansion by starting its new manufacturing unit in Kolkata by the end of November 2012.
“This has resulted into more opportunities to serve the segregated regional customers in the southern and eastern regions,” said analyst at ICICI Securities in its recent report.
Analyst believes that the stock would receive attractive valuations, going forward, considering the company’s strong financial performance, impressive return ratios and its debt-free status.
