Mitsu Chem Plast is currently trading at Rs. 289.70, up by 3.10 points or 1.08% from its previous closing of Rs. 286.60 on the BSE.
The scrip opened at Rs. 289.70 and has touched a high and low of Rs. 294.00 and Rs. 288.00 respectively.
The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 374.70 on 13-Jan-2022 and a 52 week low of Rs. 213.70 on 25-Jul-2022.
Last one week high and low of the scrip stood at Rs. 294.80 and Rs. 276.40 respectively. The current market cap of the company is Rs. 346.00 crore.
The promoters holding in the company stood at 73.03%, while Institutions and Non-Institutions held 1.81% and 25.17% respectively.
Mitsu Chem Plast has expanded capacity and launched new product to drive future growth. The Company is diversifying its portfolio by launching a new product viz. Pail Containers to cater to the lubricant, paints, ink, food (FMCG) industry. Therefore, the new capacity addition has enhanced the capacity by 1,650 MTPA from the existing 23,377 MTPA.
The cost of machinery, molds and ancillaries for the project is Rs 6.14 crore which is financed by a Non-Banking Financial Company by way of an unsecured loan. The Pail Containers is proposed to be launched in the domestic market to meet the rising demand from the user industry.
Mitsu Chem Plast is a packaging solutions provider engaged in the business of manufacturing polymer-based molded products mainly used for industrial packaging for industries like chemicals, agrochemicals, pharmaceuticals, lubricants, food and edible oil.