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Polyplex Corporation surges as its arm commences commercial operations at PET Film plant

Polyplex Corporation is currently trading at Rs. 501.80, up by 8.30 points or 1.68% from its previous closing of Rs. 493.50 on the BSE.

The scrip opened at Rs. 496.90 and has touched a high and low of Rs. 502.95 and Rs. 496.90 respectively.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 655.00 on 27-May-2019 and a 52 week low of Rs. 416.00 on 03-Oct-2019.

Last one week high and low of the scrip stood at Rs. 584.00 and Rs. 489.00 respectively. The current market cap of the company is Rs. 1578.44 crore.

The promoters holding in the company stood at 50.03%, while Institutions and Non-Institutions held 9.19% and 40.78% respectively.

Polyplex Corporation’s step-down subsidiary — PT Polyplex Films Indonesia has commenced commercial operations of its PET Film Plant and Metallizer after successfully undertaking trial runs. This PET Film plant has a capacity of 44,000 TPA and Metallizer has a capacity of 6000 TPA.

Polyplex Corporation is one of India’s leading manufacturers and exporters of Biaxially Oriented Polyester (BOPET) Film for packaging, electrical and other industrial applications.

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