You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Polyplex Corporation gains on commencing operations in Indonesia, hits record high

Capital Market 

Polyplex Corporation advanced 2.99% to Rs 1,885 after the company commenced operations of 10.6 m Biaxially oriented polypropylene (BOPP) film line in Indonesia with a capacity of 60 KTPA (kilo tonnes per annum).

Polyplex Corporation announced that a 10.6 meter Biaxially oriented polypropylene (BOPP) Film Line with a capacity of 60 KTPA (kilo tonnes per annum) by PT Polyplex Films Indonesia, a wholly-owned subsidiary of Polyplex (Thailand) Public Company (PTL), Thailand, (51% subsidiary of the company) has commenced operations on Tuesday, 7 December 2021.

Biaxially oriented polypropylene (BOPP) film is film stretched in both machine and transverse directions, producing molecular chain orientation in two directions.

Polyplex Corporation's consolidated net profit surged 65.7% to Rs 169.40 crore on a 26.1% rise in net sales to Rs 1,547.58 crore in Q2 September 2021 over Q2 September 2020.

Polyplex Corporation is among the world's largest manufacturers of thin polyethylene terephthalate (PET) film.

The scrip has touched an all-time high at Rs 1,984.70 during intraday trade.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, December 08 2021. 10:24 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU