EPACK Durable hits 5% upper circuit in trade; here's why stock is in demand

EPACK Durable shares clocked a 5 per cent upper circuit at Rs 502.3 per share on BSE in Thursday's trade. The buying sparked after the company clarified through a filing that it is in preliminary discussions with China's top TV company to buy stakes in EPACK Durable's subsidiary.

 

Around 10 AM, EPACK Durable Limited share price was up 4.10 per cent at Rs 498 per share on BSE. In comparison, the BSE Sensex was up 0.29 per cent at 78,698.2. The market capitalisation of the company stood at Rs 4,798.39 crore. The 52-week high of the stock stood at Rs 517 per share and the 52-week low stood at Rs 150.95 per share.

 

 

"We would like to provide clarification on the announcement or communication through mainstream media dated December 24, 2024, captioned as “China's top TV Company plans to buy 26 per cent stake in Indian contract manufacturer EPACK Durable's Subsidiary," the filing read.

 

It added: We would like to inform you that business discussions are currently in the preliminary stage. The company shall file the requisite disclosure in compliance with applicable laws, as and when required.

 

Epack Durable specialises in the manufacturing of consumer durables and home appliances. Established as a part of the Epack Group, the company is a trusted original equipment manufacturer (OEM) for several prominent brands in the home appliances industry. Its product portfolio includes air conditioners, washing machines, refrigerators, and other household appliances.

 

Epack Durable is known for its manufacturing facilities, advanced technology, and a strong focus on quality and sustainability. The company plays a critical role in supporting leading consumer brands by providing innovative, cost-effective, and reliable solutions. Its emphasis on precision engineering and customer-centric approaches has established it as a key player in the consumer durables sector.

 

Since its listing on January 30, 2023, EPACK Durable shares have gained 130 per cent against Sensex's rise of 31.8 per cent. EPACK Durable made a weak stock market debut, with shares of the company listed at Rs 221, a 4 per cent discount when compared with its issue price of Rs 230 per share on the National Stock Exchange (NSE) on Tuesday. On the BSE, the stock of household appliances started trade at Rs 225.