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Linc Pen climbs higher after starting production at new facility

Capital Market 

& Plastics rose 2.16% to Rs 284 at 10:00 on after the company announced commencement of commercial production of new manufacturing facility at Umbergaon, from 15 July 2017.

The announcement was made by the company on Saturday, 15 July 2017.

Meanwhile, the S&P Sensex was up 81.84 points, or 0.26%, to 32,102.59. The S&P Small-Cap index was up 14.71 points, or 0.09%, to 15,922.72.

On the BSE, 50 shares were traded in the counter so far as against an average daily volume of 2,344 shares in the past one quarter.

The stock had hit a high of Rs 287.50 and a low of Rs 277 so far during the day. The stock had scaled a record high of Rs 338.95 on 28 March 2017. The stock had hit a 52-week low of Rs 220.05 on 21 November 2016.

The stock had underperformed the market over the past one month till 14 July 2017, rising 2.36% compared with 2.78% gains in the Sensex. The scrip also underperformed the market in past one quarter, falling 5.67% as against Sensex's 8.69% gains. The scrip had also underperformed the market in past one year, gaining 8.32% as against Sensex's 14.6% rise.

The small-cap company has an equity capital of Rs 14.79 crore. Face value per share is Rs 10.

On 1 May 2017, company had inaugurated the facility at Umbergaon, Investment of Rs 26 crore was made for the first phase of the unit. With this third unit, the company will immediately add a capacity enhancement of 18 crore pens annually, that will be scaled up to nearly 50 crore pens each year.

& Plastics' net profit fell 10.5% to Rs 5.63 crore on unchanged growth in sales to Rs 105.01 crore in Q4 March 2017 over Q4 March 2016.

& Plastics is one of India's leading writing instrument brands.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 17 2017. 10:09 IST