BPL, Gopala Polyplast, Continental Chem & 25 others zoom 150% in a month

Shares of BPL, Gopala Polyplast, Continental Chemicals, Sindhu Trade Links, JITF Infra Logistics and Rajnish Wellness are among 25 stocks that have rallied more than 150 per cent in the past one month. In comparison, the S&P BSE Sensex and the S&P BSE Smallcap index have gained 5.6 per cent each, while the S&P BSE Midcap index has added 7.3 per cent in the same period.

Most of these stocks are currently classified in the T, Z, X and XT category on the BSE. X and XT group consists of all those stocks which are only listed on BSE and are settled on a trade-to-trade basis. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed.

Z category includes companies which have failed to comply with its listing requirements and/or have failed to resolve investor complaints and/or have not made the required arrangements with both the depositories, viz., Central Depository Services (I) Ltd. (CDSL) and National Securities Depository Ltd. (NSDL) for dematerialization of their securities.

Shares of consumer electronics company BPL were locked at the upper circuit for the 22nd straight trading session, up 5 per cent at Rs 108.75 on the BSE on Tuesday. The stock is quoting at its highest level since January 2018, having rallied 203 per cent in the past one month.

According to BPL, the electronic industry is poised for better growth, buoyed by the government's 'Make in India' policies. Currently, nearly 85 per cent of Printed Circuit Boards (PCBs) are imported by and therefore this is one of the components that are being seriously considered for import substitution. This is a huge opportunity and the electronic manufacturing companies have participated in the Production Linked Incentives (PLI) schemes of the government and expanded their capabilities and capacities, the company said.

"The size and quality of new business opportunities have grown considerably over the past few months. The company has taken appropriate steps towards strengthening the PCB Portfolio, through working on new products like RF PCBs. These new products represent a profitable new direction for the company's PCB Division," BPL said in the financial year 2020-21 (FY21) annual report.

Gopala Polyplast too was locked at the 5 per cent upper circuit at Rs 650.30 on the BSE. The stock of container & packaging company zoomed 178 per cent in past one month. It is trading under Z group on the BSE.

Due to financial crisis and default of bank debts and operational creditors, it went under corporate insolvency resolution process (CIRP) process under the Insolvency and Bankruptcy Code (IBC) Law. In August 2020, Hon’ble National Company Law Tribunal, Ahmedabad passed an order approving resolution plan submitted by Plastene India.

The company product portfolio includes Woven Sacks, Woven Fabric, A D Star Bags and woven label. The 90 per cent of the revenue of the company came from polypropylene woven sacks and fabrics division.

New management has a robust and sustainable business model and is confident of the medium to long-term growth prospects in flexible packaging. The company’s businesses will continue to register healthy growth in revenue and margins, the company said.

As of June 30, 2021, the promoters held 92.83 per cent stake in the firm and public shareholders owned 7.17 per cent, the shareholding pattern data shows. Bank of Baroda was the largest shareholder in the firm with 5 per cent stake, while individual shareholders held 1.36 per cent stake, data shows. The company has 10.2 million outstanding shares of face value of Rs 10 each.