Time Technoplast soars as its arm incorporates new subsidiary in Singapore
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Time Technoplast is currently trading at Rs. 103.80, up by 1.70 points or 1.67% from its previous closing of Rs. 102.10 on the BSE.
The scrip opened at Rs. 103.75 and has touched a high and low of Rs. 104.90 and Rs. 102.35 respectively. So far 45492 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 117.65 on 10-Jun-2022 and a 52 week low of Rs. 63.10 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 105.75 and Rs. 98.50 respectively. The current market cap of the company is Rs. 2308.96 crore.
The promoters holding in the company stood at 51.33 % while Institutions and Non-Institutions held 17.83 % and 30.83 % respectively.
Time Technoplast’s wholly owned subsidiary -- GNXT Investment Holdings, Singapore has incorporated a new subsidiary namely ‘Abhi Investment Holding’ Company in Singapore. The incorporation of ‘Abhi Investment Holdings’ has been registered on July 27, 2022 and accordingly has become a step down wholly owned subsidiary of Company with effective from July 27, 2022.
The purpose of incorporation of step down wholly owned subsidiary is a step towards the consolidation/restructuring of overseas business as approved by the Members of the Company through Postal Ballot on May 10, 2022.
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.
