This multibagger stock surged more than 5 per cent in today’s session. Do you own it?
The stock has witnessed heavy buying as it has given multibagger returns of more than 150 per cent in just 1 year
On Tuesday, shares of TCPL Packaging zoomed more than 5 per cent to make an intraday high of Rs 1467.90. The scrip witnessed a massive spurt in volume by more than 2.09 times.
For December quarter ended 2022, the net sales increased by 33 per cent from last year’s same quarter to Rs 358.40 crore. The EBITDA level surged more than 46 per cent from December 2021 to Rs 63.36 crore. The company’s net profitability shot up by more than 91 per cent from the corresponding quarter last year to Rs 26.85 crore.
Recently, the company had announced that it has further invested in rights issue of its subsidiary company, Creative Offset Printers Private Limited (COPPL) aggregating to Rs 2.59 crore. The company holds close to 84 per cent of the share capital in COPPL. The acquisition of COPPL has strengthened TCPL’s diverse portfolio with the foray into high potential rigid boxes space targeting the growing smart phone & electronics industry.
TCPL manufactures folding cartons, printed blanks and outers, litho-lamination, plastic cartons, blister packs and shelf-ready packaging. TCPL has also ventured into the flexible packaging industry, with the capability to produce printed cork-tipping paper, laminates, sleeves and wrap-around labels.
The stock has witnessed heavy buying as it has given multibagger returns of more than 150 per cent in just 1 year and more than 35 per cent in 6 months. Keep a close eye on this trending multibagger stock.