Top gainer of the day: This small-cap packaging company soared 20 per cent today, heres why!

The stock is leading the A group on the BSE.

This summer the heat is on as the stocks are rocketing sky high amid earnings season! Jindal Poly Films has been no exception. The stock has hit the upper circuit of 20 per cent from its previous close of Rs 907.20. The trading is halted at Rs 1,088.60. The high-spirited bullish trend was driven by its robust Q4 results.  

For Q4 FY22, it recorded 27 per cent YoY growth in revenues to Rs 1,724.12 crore. The net profit has exploded by over 123 per cent YoY to reach Rs 489.13 crore. Not only for the quarter, but it has also posted robust performance for FY22. The revenues and profit after tax have grown by 37.2 per cent and 52 per cent to Rs 5,869.24 crore and Rs 1,194.27, crore respectively. 

The board also approved an investment of Rs 170 crore as part of its expansion plan of setting up a new BOPP Capacitor line.  

Jindal Poly Films Ltd is the largest manufacturer of BOPET and BOPP films in India. The company produces BOPET film, BOPP film, metalized BOPET film and BOPP film, coated BOPET and BOPP films, and polyester chips. The scrip has a 52-week high and low of Rs 1,444.40 and Rs 772.35, respectively.