Time Technoplast Ltd Share Price – NSE  /  BSE

Plastic products, Small Cap

Time Technoplast has repaid commercial paper with maturity of 03 July 2024.

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Time Technoplast has received an additional order for supply of Composite cylinders (LPG) for total value of Rs.55 crore (appx) from Indian Oil Corporation.

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The benchmark indices extended gains and hit day's high in the early afternoon trade. The Nifty traded above the 23,800 level. Oil & gas shares gained after declining in past three consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 454.49 points or 0.58% to 78,508.01. The Nifty 50 index gained 114.35 points or 0.48% to 23,835.65.

The Sensex and Nifty clocked an all-time high of 78,588.76 and 23,859.50 respectively in early afternoon trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.13% and the S&P BSE Small-Cap index added 0.47%.

The market breadth was positive. On the BSE, 2,069 shares rose and 1,679 shares fell. A total of 152 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.34% to 14.36. The Nifty 27 June 2024 futures were trading at 23,864.90, at a premium of 29.25 points as compared with the spot at 23,835.65.

The Nifty option chain for the 27 June 2024 expiry showed maximum Call OI of 117.8 lakh contracts at the 24,000 strike price. Maximum Put OI of 122.1 lakh contracts were seen at 23,000 strike price.

Buzzing Index:

The Nifty Oil & Gas index rose 0.85% to 11,855.90. The index fell 1.94% in past three consecutive trading sessions.

Aegis Logistics (up 3.03%), Reliance Industries (up 2.09%), Adani Total Gas (up 1.7%), Gujarat Gas (up 1.51%), Bharat Petroleum Corporation (up 1.28%), Mahanagar Gas (up 0.41%), Hindustan Petroleum Corporation (up 0.4%), Indian Oil Corporation (up 0.39%), Indraprastha Gas (up 0.28%) and Oil & Natural Gas Corpn (up 0.11%) advanced.

On the other hand, GAIL (India) (down 1.03%), Gujarat State Petronet (down 1.03%) and Petronet LNG (down 0.8%) edged lower.

Stocks in Spotlight :

Time Technoplast rose 1.74% after it received an additional order from Indian Oil Corporation (IOCL) to supply composite cylinders (LPG) for Rs 55 crore.

Borosil added 0.29%. The company announced the completion of fundraising Rs 149.99 crore through a qualified institutional placement (QIP) route.

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The company stated that this additional demand is on account of the positive response from the end user on account of numerous advantages of using composite cylinders like explosion proof, light weight, translucent body etc.

The order received is for 10 kg capacity composite LPG cylinders. The order quantity may be increased at the discretion of IOCL, on same terms and conditions during the validity period, added the firm.

The order is to be executed within 12 months from the date of purchase order. The cost of the project is Rs 55 crore.

Time Technoplast is engaged in manufacturing of polymer & composite products. The company offers a range of technology based polymer products catering to the growing sectors of the Indian economy with industrial and consumer packaging solutions, lifestyle products, auto components, healthcare products and construction and Infrastructure related products. Their product portfolio consists of packaging products including drums and containers, pails, pet sheets, entrance matting, turfs, garden furniture, automotive components, auto disabling medical disposables and warning nets.

The company’s consolidated net profit jumped 45.3% to Rs 92.35 crore on 16.9% increase in revenue from operations to Rs 1,394.32 in Q4 FY24 over Q4 FY23.

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