New product launch boosts Uflex counter

Uflex jumped 5.79% to Rs 296 at 10:50 IST on BSE after the company announced the launch of profile pouch for liquids with sonically sealed spout.

The announcement was made during market hours today, 10 November 2016.

Meanwhile, the S&P BSE Sensex was up 469.97 points or 1.72% at 27,722.50.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 69,932 shares in the past one quarter. The stock hit a high of Rs 299 and a low of Rs 285 so far during the day. The stock hit a record high of Rs 334 on 27 October 2016. The stock hit a 52-week low of Rs 132.20 on 29 February 2016. The stock underperformed the market over the past one month till 9 November 2016, falling 10.91% compared with the Sensex's 2.88% fall. The scrip however outperformed the market in past one quarter, gaining 19.73% as against the Sensex's 2.96% decline.

The mid-cap company has equity capital of Rs 72.21 crore. Face value per share is Rs 10.

Uflex recently launched profile pouch for liquids with sonically sealed spout in India and offered it to Paras Dairy for packing its ghee (clarified butter). The laminate of the pouch engineered at Uflex's packaging plant at Noida is a three ply structure comprising isotropic PET/ isotropic PET/co-ex nylon polyethylene (PE). Two transparent lsotropic polyester layers provide excellent mechanicals to the laminate that are required to withstand harsh supply chain conditions. The three ply structure has been especially engineered to optimize the OTR and WVTR for extending the shelf life of the product packed, Uflex said.

On consolidated basis, Uflex's net profit rose 11.6% to Rs 86.16 crore on 4.5% decline in net sales to Rs 1480.42 crore in Q1 June 2016 over Q1 June 2015.

Uflex is one of the India's largest end-to-end flexible packaging companies.

Powered by Capital Market - Live News