Astral Poly gains on commencing production of water storage tanks

Astral Poly Technik rose 1.07% to Rs 1484.30 after the company said it has started commercial production of plastic water storage tanks at its Aurangabad facility.

Astral Poly Technik has started commercial production of plastic water storage tanks under the brand name, Astral, from Saturday, 12 December 2020, at its manufacturing facility situated at Pangra in Aurangabad.

Astral Poly Technik is engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions. Its product range includes pipe category for plumbing, industrial, drainage, fire protection, agriculture, electrical conduit and ancillary, and adhesive category for construction, maintenance, wood care and automotive.

The company's consolidated net profit rose 6.8% to Rs 87.90 crore on 10.1% increase in net sales to Rs 747.10 crore in Q2 September 2020 over Q2 September 2019.

In the past six months, the stock has added 69.94% while the benchmark S&P BSE Sensex has gained 36.74% during the same period.

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