TCPL Packaging soars 16%, hits record high on healthy business outlook

Shares of TCPL Packaging hit a record high of Rs 1,650.30 as they rallied 16 per cent on the BSE in Friday's intra-day trade, in an otherwise subdued market, on healthy business outlook. The stock of the packaging company surpassed its previous high of Rs 1,540.45, touched on September 5, 2022. In comparison, the S&P BSE Sensex was down 0.04 per cent at 61,725 at 09:34 am.

In the past two weeks, the stock price of TCPL Packaging has zoomed 44 per cent after it reported a strong performance in the September quarter (Q2FY23) amidst a challenging operating environment. In Q2FY23, the company's consolidated revenues grew by 43 per cent year-on-year (YoY) to Rs 361.7 crore on the back