Packaging stocks in focus; Everest Kanto up 10%, Cosmo Films hits new high

Cosmo Films gained 1.82 per cent to its fresh all-time high of Rs 488.95 on the BSE after announcing its June quarter earnings

Shares of packaging companies were in focus at the bourses on Thursday and rallied as high as 10 per cent on the back of decent June quarter results.

Cosmo Films rose 1.82 per cent to its fresh all-time high of Rs 488.95 on the BSE after announcing its June quarter earnings (Q1FY20) yesterday. The company posted a 69.15 per cent year-on-year (YoY) increase in consolidated net profit at Rs 46.99 crore for the first quarter ended June 2020.

Among other stocks, Everest Kanto, Essel Propack, Jindal Poly Film, Kanpur Plasti, Ester Industries, and Hitech Corp all gained in the range of 5-10 per