Mold-Tek Packaging trades higher on the BSE

Mold-Tek Packaging is currently trading at Rs. 863.50, up by 9.55 points or 1.12% from its previous closing of Rs. 853.95 on the BSE.

Mold Tek Packaging
Mold Tek Packaging

The scrip opened at Rs. 860.50 and has touched a high and low of Rs. 864.55 and Rs. 853.65 respectively. So far 611 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1057.85 on 19-Aug-2022 and a 52 week low of Rs. 644.10 on 29-Nov-2021.

Last one week high and low of the scrip stood at Rs. 869.35 and Rs. 835.95 respectively. The current market cap of the company is Rs. 2857.32 crore.

The promoters holding in the company stood at 34.11%, while Institutions and Non-Institutions held 34.07% and 31.82% respectively.

Mold-Tek Packaging has received Letter of Award (LoA) from Grasim Industries- Birla Paints division, for supply of Packing Material (PAILS) and accordingly, a co-located facility will be set-up by the Company at Cheyyar near Chennai to cater to their demands.

The new facility is expected to be set up and operational by January 2024 and shall call for an investment of around Rs 30 crore.

The Company also proposes to set up Food and FMCG IML container manufacturing facilities in Cheyyar, to capture demand for these products and also service clients for PAILS in Southern India.

Mold-Tek Packaging is the leader in rigid plastic packaging in India.

The company is involved in the manufacturing of injection molded containers for lubes, paints, food and other products.

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