This BSE Group A small cap company soared in a pessimistic market!

This BSE Group A small cap company soared in a pessimistic market!

by 5paisa Research Team Last Updated: Jun 07, 2022, 04:49 PM IST

Time Technoplast touched a 52-week high today. Let us find out why?

Time Technoplast is engaged in manufacturing a range of manufacturing polymer packaging products. The company manufactures a range of products such as Industrial and Consumer Packaging Solutions, Lifestyle Products, Auto Components, Healthcare Products, and Construction/Infrastructure related products.

Their product portfolio consists of packaging products including Drums/Containers Pails PET sheets Entrance Matting Turfs Garden Furniture Automotive Components Auto Disabling Medical Disposables and Warning Nets.

Time Technoplast has started the process of the sale of a land parcel located on Saki Vikar road, Mumbai with an identified buyer. A leading Asset Management Company is doing the due diligence process. The transaction including receipt of sales proceeds is likely to be completed soon. The sale consideration will be utilized for repayment of debt to lenders of the Promoter Company, resulting in the release of entire present pledged equity shares.

The current market cap of the company is Rs 2365.50 crore. The promoters holding in the company stood at 51.33%. It reported a total income of Rs 1040.39 crore for the quarter that ended on March 31, 2022, as compared to Rs 953.44 crore reported during the quarter ended March 31, 2021. The company has posted a net profit of Rs 55.50 crore for the quarter that ended on March 31, 2022, as against a net profit of Rs 52.20 crore for the quarter ended March 31, 2021.

In today’s trading session, the stock price, surged 4.06% and the scrip ended at Rs 107.70. Today, the stock touched a new 52-week high of Rs 112 and has a 52-week low of Rs 63.10.

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