Penny Stock Under Rs 70; Board Announces 1:1 Bonus Share
The stock is up by 33.9 per cent from its 52-week low of Rs 51.15 per share.
Technopack Polymers Ltd. has announced a 1:1 bonus share issue, meaning eligible shareholders will receive one new share for every one share they currently hold. The new shares will be valued at Rs. 10 each. The company aims to credit or dispatch these bonus shares within two months of the board's approval, which is expected to be on or before February 02, 2025.
Earlier, the company announced its partnership with the Adani Group, India’s second-largest conglomerate renowned for its extensive operations across sectors such as energy, resources, logistics, and agribusiness. This strategic collaboration is a milestone in Technopack’s growth journey, marking the company’s emergence as a prominent supplier of custom-designed polymer products that meet Adani's stringent quality and performance standards. This partnership has already started yielding positive impacts on Technopack’s sales, profitability, and growth trajectory.
About the Company
Incorporated in 2018, Technopack Polymers Ltd is a leading manufacturer of CCM caps, closures, PET preforms, and an array of plastic packaging solutions. The company is one of India’s largest resin importers and supplies both plastic and paper products for FMCG packaging needs. Since its inception, the company has focused on delivering innovative, high-quality polymer solutions for diverse industries.
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The company has a market cap of Rs 36.72 crore and debtor days have improved from 50.2 to 35.5 days. The stock is up by 33.9 per cent from its 52-week low of Rs 51.15 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.