Century Plyboards shares gain 9% in trade; here's what's driving rally

Century Plyboards shares jumped 9 per cent in Friday's trade on BSE, logging an intraday high at Rs 814.15 per share. The buying on the counter came after the company announced it has incorporated its subsidiary by the name 'Centuryply Furniture Fittings Limited' at Kolkata.

 

Around 10:17 AM, Century Plyboards share price was up 7.27 per cent at Rs 801.2 per share on BSE. In comparison, the BSE Sensex was down 0.51 per cent at 75,351.5. The market capitalisation of the company stood at Rs 17,800.5 crore. The 52-week high of the stock was at Rs 938.6 per share and the 52-week low was at Rs 614.25 per share.

 

 

"We wish to inform you that the Company has incorporated a wholly owned Subsidiary by the name “Centuryply Furniture Fittings Limited” at Kolkata on February 18, 2025, for the purpose of manufacturing fitting and fixtures for furniture," the filing read.  

 

The target entity has authorised share capital of Rs 15,00,000 and paid up share capital of Rs 5,00,000. The approval was received by the Registrar of Companies, Central Registration Centre, Ministry of Corporate Affairs for the acquisition. 

 

Century Plyboards (India) Ltd. came into existence in 1986 as a result of two visionaries, Sajjan Bhajanka and Sanjay Agarwal. Since then, the company has taken giant strides and is today, the largest seller of multi-use plywood and decorative veneers in the Indian organised plywood market.

 

As the pioneers in Borer Proof Plywood and Boiling Water Resistant (BWR) Decorative Veneers and Laminates in India, the company has successfully created a niche in the highly competitive lifestyle segment. By giving more freedom to our users, we ensure they have more choices available that will help them in achieving what they desire. 

 

The company offers flexible plywoods with unique blend of form and functionality to specially treated, Fire Retardant plywoods that find use in a myriad of construction purposes,. Now in its 36th year of operations, CenturyPly enjoys a unique brand identity as the market leader, with offerings that are considered industry benchmarks.

 

In the past one year, Century Plyboards shares have gained 3.7 per cent against Sensex's rise of 4 per cent.