2:1 Stock Split: Penny stock at Rs 30 jumps after bagging international & domestic orders worth Rs 4,97,00,000
The stock is up by 39 per cent from its 52-week low of Rs 19.56 per share.
Rajshree Polypack Limited has recently announced securing a significant total of Rs 4,97,00,000 in new orders, encompassing both international and domestic clients. This achievement underscores the company's growing market presence and its ability to cater to diverse packaging needs. The orders are slated for fulfilment by May 2025 or as mutually agreed upon, indicating a near-term boost to the company's revenue and operational activities. This development highlights Rajshree Polypack's capability to attract and secure business from various sectors within the packaging industry.
The international order, valued at approximately Rs 76 lakh, comes from a leading USA-based distributor of food packaging containers. Under this contract, Rajshree Polypack will supply customized Thermoforming and/or Injection Moulding products tailored to the customer's specific requirements. This win signifies the company's ability to penetrate the global market and meet the stringent demands of international clients in the food packaging sector. It also demonstrates their expertise in producing specialized packaging solutions.
Domestically, Rajshree Polypack has secured three substantial orders. These include a Rs 1.48 crore order for Plastic Rigid Sheets from the wholly-owned Indian subsidiary of a Switzerland-based packaging giant, a Rs 1.79 crore order for Plastic Rigid Sheets from a large packaging manufacturer listed on the Indian Stock Exchange and majorly owned by a Finland-based entity, and a Rs 94 lakh order for Thermoforming and/or Injection Moulding products for food packaging from a beverage manufacturer with a strong presence in Eastern India. These domestic wins highlight the company's strong foothold in the local market and its capacity to serve a wide range of industries with diverse packaging requirements.
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Furthermore, shares of the company ex-traded split of equity shares in the ratio 2:1, i.e., sub-division/split of equity shares having a face value of Rs 10 each, fully paid-up into 2 equity shares having a face value of Rs 5 each, fully paid-up. The ex-date for the stock split was Wednesday, September 18, 2024.
Rajshree Polypack Ltd, established in 2011, is a leading manufacturer of plastic packaging solutions. Specialising in barrier plastic sheets, thermoformed packaging, and injection moulded products, the company caters to the dairy, food, and beverage industries. Their product range includes polypropylene, high barrier sheets, PET, HIPS, laminated sheets, and packaging solutions for various sectors. With three manufacturing units and a capacity of 25,000 MT, Rajshree Polypack serves renowned clients like Epigamia, Nestle, Havmor, Mother Dairy, Amul, Ferrero, Britannia, Kellogg's, Cafe Coffee Day, Gowardhan, etc.
On Wednesday, shares of Rajshree Polypack Ltd surged over 10 per cent to Rs 27.15 per share from its intraday low of Rs 24.55 per share. The stock’s 52-week high is Rs 48.50 and its 52-week low is Rs 19.56. The company has a market cap of Rs 199 crore. The stock is up by 39 per cent from its 52-week low of Rs 19.56 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.