This small-cap stock should be on your watchlist today as it plans for business restructuring!

Karan Dsij
/ Categories: Trending, Mindshare
This small-cap stock should be on your watchlist today as it plans for business restructuring!

The stock has risen nearly 28 per cent in the last one year

Time Technoplast Limited, which is engaged in manufacturing plastics products, gained nearly 5 per cent on Friday and with this, ended the last week with gains of 19 per cent.   

The stock has formed an opening bullish Marubozu candle on the weekly chart. This candle has no lower shadow as the open and low are identical. The opening bullish Marubozu candle indicates an extreme bullishness as after opening, the price starts to trend higher, forming a long body without a lower shadow.   

The board of the company has accorded its approval for restricting overseas business, subject to the approval of members to capture the growth in Asian countries, the Middle East, and the USA through joint venture/special purpose vehicle by onboarding strategic partner/investor partner by way of sale/transfer/disposal of part of assets/investments of subsidiaries/material subsidiaries/step-down subsidiaries.  

The company will be benefitted by utilising the proceeds of the restructuring for the repayment of the debt, Capex for composite cylinders (LPG/CNG/hydrogen), and core business in India to meet huge market demand as well as benefit the shareholders.  

The stock has risen nearly 28 per cent in the last one year while in the last one month, it climbed 12 per cent. Over the last five years, revenue for the company has grown at a yearly rate of 4.24 per cent.   

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