TCPL Packaging rises on acquiring additional stake in Creative Offset Printers
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TCPL Packaging is currently trading at Rs. 1292.75, up by 14.40 points or 1.13% from its previous closing of Rs. 1278.35 on the BSE.
The scrip opened at Rs. 1270.00 and has touched a high and low of Rs. 1292.75 and Rs. 1270.00 respectively. So far 177 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1800.95 on 07-Dec-2022 and a 52 week low of Rs. 647.70 on 11-May-2022.
Last one week high and low of the scrip stood at Rs. 1390.00 and Rs. 1260.00 respectively. The current market cap of the company is Rs. 1171.90 crore.
The promoters holding in the company stood at 55.74%, while Institutions and Non-Institutions held 4.90% and 39.37% respectively.
TCPL Packaging has further invested in Rights Issue of its subsidiary company viz., Creative Offset Printers (COPPL) and has been allotted 1,50,453 equity shares, aggregating to Rs 8.50 crore. The objective of acquisition is for expansion of business. COPPL is in the business of packaging i.e. cartons and boxes required by mobile phone manufacturing companies and other customers. Large number of different manufacturers are expanding in mobile phone production. This would result in increasing the packaging share of the Company.
TCPL Packaging is one of leading and largest manufacturers of folding cartons in India. The company manufactures packaging material for the following segments: Cigarette, Liquor, Food, FMCG, etc.
