Essel Propack hits record high, surges 41% in 2 weeks on strong Q2 results

On November 11, India Rating & Research affirmed Essel Propack's long term issuer rating as "IND AA" (resolving rating watch evolving (RWE)) with positive outlook.

Shares of Essel Propack gained 6 per cent on the BSE on Friday to hit a record high level of Rs 164 in an otherwise range-bound market. The container & packaging company's stock has rallied 41 per cent in the past two weeks after reporting a strong set of numbers for the quarter ended September 2019 (Q2FY20).

Essel Propack reported EBITDA (earnings before interest, tax, depreciation and amortisation) margin expansion by 270 bps year on year (YoY) to 20.9 per cent in Q2FY20, driven by favorable mix shift and productivity improvement. Higher revenue share from the personal care category and