Shish Industries moves higher on getting nod to purchase machineries from Tapeplast Industries
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Shish Industries is currently trading at Rs. 115.00, up by 3.85 points or 3.46% from its previous closing of Rs. 111.15 on the BSE.
The scrip opened at Rs. 116.00 and has touched a high and low of Rs. 116.00 and Rs. 111.00 respectively. So far 4553 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 149.65 on 01-Aug-2023 and a 52 week low of Rs. 45.33 on 05-Dec-2022.
Last one week high and low of the scrip stood at Rs. 121.95 and Rs. 110.05 respectively. The current market cap of the company is Rs. 392.35 crore.
The promoters holding in the company stood at 66.48%, while Non-Institutions held 33.52% in the company.
Shish Industries has received approval for the purchase of machineries worth Rs 112 lakh from Tapeplast Industries, a Partnership Firm. At present, the company is getting the ‘Tarpaulin’ manufactured on outsourced basis. The purchase of machineries from Tapeplast Industries will enable the company to manufacture ‘Tarpaulin’ at its own manufacturing facilities. The Board of Directors of the Company, in their Meeting held on August 29, 2023, has approved the same.
Shish Industries is manufacturer of plastic corrugated sheets, having large distribution network of distributors, warehouses and retail stores with location in over India and will expand to global markets further.
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