Uflex introduces barrier packaging for edible-oil
Adding another feather to its cap, packaging major Uflex introduced a customised formulation that renders barrier packaging for edible-oil re-processable on Friday. Following the development, the company’s share price surged by around one per cent on the bourses in Friday’s trade.
Working towards sustainable flexible packaging, the company has developed a specialized formulation that renders barrier packaging for edible-oil re-processable, despite the presence of Nylon and/or EVOH. The company has been constantly making advancements in the segment by introducing innovative packaging solutions such as Flexfresh, a biodegradable solution for fresh food packaging.
In Friday’s trade, the company hit an intraday high of Rs. 353.35 per share and an intraday low of Rs. 347.55 per share on BSE, respectively. The company had touched its 52-week high of Rs. 506.75 per share on December 26, 2017 and its 52-week low of Rs. 293.10 per share on April 7, 2017 on BSE, respectively.
At 13:16 hours IST, the stock was trading at Rs. 350.40 per share, lower by 0.21 per cent on BSE on Friday. Meanwhile, S&P BSE Sensex was trading at 33,579.51 level, lower by 0.05 per cent and NSE Nifty50 was trading at 10,314.25 level, lower by 0.11 per cent.