Prince Pipes rises 11.74 per cent on technical collaboration with Tooling Holland
Prince Pipes and Fittings Limited (PPFL), one of India’s largest integrated piping solutions & multi polymer manufacturers, announced that the company has entered into a technical collaboration with Tooling Holland BV, a global leader in the international plastic injection moulding industry based in the Netherlands.
Tooling Holland BV has over 30 years of experience in the development and production of injection moulds. The company specialises in the manufacture and exports of moulds for fittings (16-1,000 mm), crate and container moulds, thin-wall packaging moulds and PET preform moulds. Tooling Holland exports its products to worldwide operating major fitting and pipe producers.
This association will enable Prince Pipes to draw upon Tooling Holland’s technical expertise and deep knowledge, build skills at par with international standards, thereby, significantly enhancing internal operational efficiencies as well as optimise production costs.
The stock closed at 136.60, up by 11.74 per cent or Rs 14.35 per share. The intraday high is Rs 142.05 and the intraday low is Rs 126.95. Since the beginning of the year, the stock has given a return of -12.37 per cent thereby underperforming S&P BSE Small-cap index, which gave a return of -0.85 per cent.