Jindal Poly Films gains after augmenting capacity at Nashik plant

Jindal Poly Films rose 2.27% to Rs 439.75 at 12:30 IST on BSE after the company announced that it has commissioned new films production line at Nashik plant.

The announcement was made on Saturday, 16 July 2016.

Meanwhile, the S&P BSE Sensex was up 149.95 points or 0.54% at 27,986.45.

On BSE, so far 16,354 shares were traded in the counter as against average daily volume of 19,077 shares in the past one quarter. The stock hit a high of Rs 440.75 and a low of Rs 435 so far during the day. The stock had hit a 52-week high of Rs 612 on 4 November 2015. The stock had hit a 52-week low of Rs 273.60 on 21 July 2015. The stock had underperformed the market over the past one month till 15 July 2016, falling 8.44% compared with 4.15% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 12.24% as against Sensex's 8.62% rise.

The mid-cap company has equity capital of Rs 42.05 crore. Face value per share is Rs 10.

Jindal Poly Films commissioned 7th Biaxially oriented polypropylene (BOPP) films production line of 41,000 tonnes per annum (TPA) increasing the India BOPP capacity to 2.51 lakh TPA at its Nasik, Maharashtra location. This is a part of Rs 1000 crore capital expenditure plans announced earlier by the company. This is in addition to coating and metalising capacities commissioned in the financial year ended 31 March 2016 (FY 2016). The global BOPP capacity now stands at 4.66 lakh TPA, the company added.

Jindal Poly Films' consolidated net profit rose 23.2% to Rs 79.21 crore on 1.7% rise in net sales to Rs 1799.44 crore in Q4 March 2016 over Q4 March 2015.

Jindal Poly Films is a flagship company of B C Jindal group and is engaged in diverse business activities including manufacturing of polyester film, polypropylene film, steel pipes and photographic products.

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