Linc Pen and Plastics locks in upper circuit on new product

Linc Pen and Plastics has introduced a new product under the 'Pentonic' brand umbrella - a retractable ball pen, priced at Rs. 20.

'Pentonic' brand was launched in FY19 and became the second largest product in terms of volume and the largest product in value terms of the company.

The company had mentioned that Rs.10 and above segment contributed 31 per cent to total volumes and 45 per cent to the total value in Q1FY20. Going ahead, management expects this segment to contribute 50 per cent of domestic revenues by FY21.

In the recent quarter Q1FY20, the company has mentioned about new range of markers which have received a positive response.

In the current fiscal year, the company is anticipating modest growth in exports on account of a number of global challenges. However, overall profitability is likely to improve as low margin products are being substituted by the likes of the Pentonic ball pen.

Today, the stock was locked in upper circuit at Rs. 201.30, up 10 per cent on the BSE.