Technopack Polymers shares zoom 19% on board's approval for bonus issue

Technopack Polymers shares zoomed 18.9 per cent in Thursday's trade and logged an intraday high at Rs 80.9 per share. The stock gained after the company's board approved bonus shares. 

 

Around 10:23 AM, Technopack Polymers share price was up 16.4 per cent at Rs 79.15 per share. In comparison, the BSE Sensex was down 0.15 per cent at 80,838.26. The market capitalisation of the company stood at Rs 42.74 crore. The 52-week high of the stock stood at Rs 96 per share and 52-week low of the stock stood at Rs 51.15 per share.

 

On Wednesday, after market hours, the company's board approved the bonus issue in 1:1 ratio where 1 new fully paid-up equity share of Rs 10 each will be given against every 1 existing fully paid-up equity share of Rs 10.

 

As per the filing, 5.4 million shares will issued as a bonus worth Rs 5.4 crore. Post-bonus issue paid-up share capital will be 1.080 million shares of face value of Rs 10 aggregating to share capital of Rs 10.8 crore. 

 

Technopack Polymers is a company involved in the manufacturing and supply of plastic packaging products, primarily focusing on the production of flexible packaging solutions. The company offers a variety of products, including films, bags, pouches, and other packaging materials, which are used across a range of industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods.

 

The company is known for its emphasis on high-quality, innovative packaging solutions that cater to the specific needs of businesses looking for efficient, cost-effective, and sustainable packaging options. The company utilises advanced manufacturing techniques and technology to ensure its products meet the highest standards of durability, flexibility, and functionality.

 

The company's clients include Patanjali, Ananta Hotels, Acko and others. It envisions being a global packaging product enterprise, by making a positive difference in our customer’s life through a continuous process of challenging conventions and innovating to offer meaningful packaging products & solutions.

 

In the past one year, Technopack Polymers shares have lost 6.6 per cent against Sensex's rise of 17 per cent.