Jindal Poly Films jumps over 7 per cent post collaborating with DIC Corporation
Jindal Poly Films (JPFL) has decided to enter into a partnership with DIC Corporation (DIC), Japan in the area of CPP films to fulfill the demands of the Indian as well as other exports market.
The demand for functional CPP film in the food packaging business is expected to rise in the future as CPP film contributes to the realisation of reducing plastics and mono-material packaging. The company had entered into the business of CPP films in 2018.
The collaboration with DIC will mainly focus on three spheres:
- Entering into a technology licencing agreement whereby DIC would extend packaging technology to JPFL.
- Development and mass production of CPP films using DIC technologies at their plant in India.
- Conducting joint sales operations of the films manufactured by the company with a view of creating a joint venture.
The stock price reacted positively and rallied over 7 per cent after the news broke out. At the time of market closing on Thursday, the stock of Jindal Poly Films Ltd was trading at Rs 452.75, up by 3.38 per cent on BSE.