2:1 Stock Split: Penny stock at Rs 40 jumps over 20 per cent from intraday low as company bags new order worth Rs 33,00,000
The stock is up by 27 per cent from its 52-week low of Rs 46 per share.
Rajshree Polypack Limited has secured a significant order from a leading US-based confectionary manufacturer. The company will be responsible for developing customized moulds using thermoforming technology, which will be used in the production of the client's products. Once the moulds are successfully developed and product testing is complete, the supply order is anticipated to be received. This is an international order that involves developing customized moulds according to the client's specific requirements. The estimated timeframe for executing this order is 6-8 months, after which the supply of thermoformed products is expected to commence. The total order value for the mould development is USD 40,000 (approximately Rs 33 lakh).
Earlier, the company secured a significant new contract with a leading USA-based distributor of food containers made using Injection Molding technology. This international contract involves the supply of customized Injection Molding products, specifically designed to meet the customer's unique specifications. The company will develop moulds tailored to these requirements, ensuring precise product delivery. Rajshree Polypack is committed to fulfilling this initial order of USD 0.37 million (approximately Rs 3 crore) by December 31, 2024, or as mutually agreed upon to accommodate the necessary order volume.
Furthermore, shares of the company ex-traded split of equity shares in the ratio 2:1 i.e., sub-division/split of equity shares having a face value of Rs 10 each, fully paid-up into 2 equity shares having a face value of Rs 5 each fully paid-up. The ex-date for the stock split was Wednesday, September 18, 2024.
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Rajshree Polypack Ltd, established in 2011, is a leading manufacturer of plastic packaging solutions. Specialising in barrier plastic sheets, thermoformed packaging, and injection moulded products, the company caters to the dairy, food, and beverage industries. Their product range includes polypropylene, high barrier sheets, PET, HIPS, laminated sheets, and packaging solutions for various sectors. With three manufacturing units and a capacity of 25,000 MT, Rajshree Polypack serves renowned clients like Epigamia, Nestle, Havmor, Mother Dairy, Amul, Ferrero, Britannia, Kellog's, Cafe Coffee Day, Gowardhan, etc.
On Wednesday, shares of Rajshree Polypack Ltd surged over 20 per cent to Rs 40 per share from its intraday low of Rs 33.21. The stock’s 52-week high is Rs 64.75 and its 52-week low is Rs 31.50.
The company has a market cap of Rs 291 crore. The stock is up by 27 per cent from its 52-week low of Rs 46 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.