Time Technoplast zooms on getting approval from PESO for manufacturing of Type-IV Composite Cylinder for Hydrogen
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Time Technoplast is currently trading at Rs. 203.35, up by 9.70 points or 5.01% from its previous closing of Rs. 193.65 on the BSE.
The scrip opened at Rs. 204.55 and has touched a high and low of Rs. 210.95 and Rs. 201.85 respectively. So far 52528 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 234.00 on 20-Feb-2024 and a 52 week low of Rs. 69.55 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 213.50 and Rs. 189.25 respectively. The current market cap of the company is Rs. 4652.05 crore.
The promoters holding in the company stood at 51.51%, while Institutions and Non-Institutions held 16.13% and 32.37% respectively.
Time Technoplast has received approval from the Petroleum and Explosives Safety Organization (PESO) for the manufacturing of High pressure Type-IV Composite Cylinder, Prototype, for Hydrogen. The Authority has advised the company to manufacture 1st lot of cylinders for their joint testing & inspection. The testing of 1st lot of cylinders shall be completed in approximate six months’ time.
The company is the first company in India to have received this manufacturing approval & this milestone marks a significant step forward in its efforts towards Sustainable Green Energy Solutions. With this approval, it is poised to contribute to the advancement of Green hydrogen technology and its role in shaping a greener future.
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.
