The company engaged in plastic and textile business has been on an uptrend post its Q2 earnings announcement after the Company reported a strong 47% year on year growth in consolidated net profit at Rs 107 crore for the second quarter.
The stock opened at Rs 89.60 and surged to a high of Rs 93 with in the first half-an-hour of trade. A combined over 7.9 million shares changed hands on BSE and NSE.
Motilal Oswal is bullish on the stock and has recommended a ‘Buy’ rating with a target price of Rs 115.
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