Nitta Gelatin Ltd was trending today; know Why?

Shares of Nitta Gelatin India Ltd have surged 20%

Indian Market
by 5paisa Research Team Last Updated: 2022-11-10T18:35:19+05:30

Shares of Nitta Gelatin India Ltd have surged 20%.  

On November 10, the market closed in the red. S&P BSE Sensex closed at 60613, down 0.69%, while NIFTY50 finished lower at 18,028.20, down 0.71%. About sectoral performance, Realty outperformed the market, while Auto and Consumer Durables are among the top losers. Regarding stock-specific action, Nitta Gelatin India Ltd was among the top-performing stock. 

Shares of Nitta Gelatin India Ltd have surged 20% and closed at Rs 676.95. The stock opened at Rs 665 and made an intraday high and low of Rs 676.95 and Rs 628.4, respectively. The stock rallied as the company, through the exchange filings, shared its capacity expansion plans. 

Nitta Gelatin India Limited is a pharmaceutical company primarily involved in the business of manufacturing gelatin and collagen peptide. 

Gelatin contains proteins & antioxidants, which help protect the cells in the body and can support the health of the digestive system, bones, skin, joints, and more. Gelatin has applications in the pharmaceutical & food industry. 

Collagen peptide is a form of protein, which is derived from collagen, holds our body together, and is found across our body i.e. skin, bones, cartilage, blood vessels, and internal organs. As we age, our natural collagen production slows down, causing skin wrinkles, stiff joints, brittle nails, and dull hair. Taking collagen supplements daily helps to reduce the ageing pace of the body. 

The benefits of collagen include: Anti-ageing wound healing, improves skin, nails, and hair, strengthens bones, helps tendons, ligaments, and joints maintain digestive health, increases muscle mass and aids weight loss. 

In the recent filing, the company disclosed that it will expand the manufacturing capacity of Collagen peptide from its existing capacity of 450 MT per year to 1000 MT per year within the next 21 months.  

The company has a market capitalisation of Rs 614 crore and is trading at a PE multiple of 16x.

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