Shares of this small-cap plastic pipe company are buzzing on the bourses today!

Yesterday, the company reported that it has received a prestigious repeat order worth approximately Rs 75 crore from Adani Total Gas Ltd.

The shares of Time Technoplast Ltd are buzzing on the bourses today. As of 11.37 am, the shares of Time Technoplast are trading higher by 8.71%. Owing to this, the stock is one of the top gainers on BSE from Group A. Meanwhile, the frontline index S&P BSE Sensex is up by 0.10%.

The rally in the share price came on the back of an announcement made by the company. Yesterday, the company reported that it has received a prestigious repeat order worth approximately Rs 75 crore from Adani Total Gas Ltd. This order pertained to supply of CNG Cascades made from Type-IV Composite Cylinder. The delivery of these cascades will begin from January 2023.

Even in the pre-opening session today, the shares of Time Technoplast were trading higher by 11.27%.  

With this rally, the shares of Time Technoplast were one of the top gainers from Group A. Today, the company reported a spurt in trading volume by more than 4.36 times.

Time Technoplast Ltd (Time Tech) is a multinational conglomerate with operations in Bahrain, Egypt, Indonesia, India, Malaysia, U.A.E, Taiwan, Thailand, Vietnam, Saudi Arabia & USA and is a leading manufacturer of polymer products. The company’s portfolio consists of technically driven innovative products, catering to growing industry segments like, Industrial Packaging Solutions, Lifestyle Products, Automotive Components, Healthcare Products, Infrastructure / Construction related products, Material Handling Solutions & Composite Cylinders.

The company is currently trading at a TTM PE of 9.32x, as against the industry PE of 22.2x. In FY22, the company delivered an ROE & ROCE of 9.7% and 12.5% respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 2,047.76 crore.

Today, the scrip opened at Rs 93.30 and has touched a high and low of Rs 99.60 and Rs 89.35, respectively. So far 3,83,069 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 125.90 and Rs 63.10 respectively on BSE.