Fiberweb (India) moves up after receiving export orders

Fiberweb (India) gained 1.59% to Rs 323.30 at 10:40 IST on BSE after the company said that it has bagged export orders worth Rs 15.2 crore for newly established first phase of expansion plan of melt blown products.

The announcement was made before market hours today, 12 December 2017.

USA and other countries have great demand of these products and the order will keep machine line busy beyond March 2018. The efforts of team of US resulted in these orders, company added.

Meanwhile, the S&P BSE Sensex was down 109.44 points or 0.33% at 33,346.35. The S&P BSE Small-Cap index rose 3.05 points or 0.02% at 18,254.82, outperforming the Sensex.

On the BSE, 11,861 shares were traded on the counter so far as against the average daily volumes of 1.01 lakh shares in the past one quarter. The stock had hit a high of Rs 328 and a low of Rs 320 so far during the day. The stock had hit a record high of Rs 389 on 16 May 2017 and a 52-week low of Rs 129.05 on 9 December 2016.

The stock had outperformed the market over the past one month till 11 December 2017, advancing 12.48% compared with the Sensex's 0.42% rise. The scrip had, however, underperformed the market over the past one quarter gaining 2.51% as against the Sensex's 4.94% rise. The scrip had, however, outperformed the market over the past one year jumping 143.05% as against the Sensex's 25.08% rise.

The small-cap company has equity capital of Rs 14.40 crore. Face value per share is Rs 10.

Fiberweb (India) makes and exports garbage bags and carrier bags.

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