Essel Propack spurts after liberal bonus shares

Essel Propack surged 4.96% to Rs 277 at 09:28 IST on BSE after the company's board of directors recommended a 1:1 bonus issue of equity shares.

The announcement was made after market hours yesterday, 26 April 2018.

Meanwhile, the S&P BSE Sensex was up 266.72 points or 0.77% at 34,980.32.

On the BSE, 21,000 shares were traded in the counter so far as against average daily volume of 2,314 shares in the past two weeks. The stock had hit a high of Rs 287 and a low of Rs 272.05 so far during the day. The stock had hit a record high of Rs 317 on 20 November 2017. The stock had hit a 52-week low of Rs 233.25 on 20 July 2017.

The mid-cap company has equity capital of Rs 31.45 crore. Face value per share is Rs 2.

Essel Propack's consolidated net profit rose 1.86% to Rs 44.79 crore on 3% increase in total income to Rs 637.26 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 26 April 2018.

Essel Propack is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the FMCG and pharma space.

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