Time Technoplast receives Rs. 180 crores order from IOCL

Time Technoplast Ltd has received the most awaited single largest order of 7,58,814 Nos. cylinders of 10 kg capacity for a value of Rs. 180.0 crores (appx.) from Indian Oil Corporation Limited (IOCL), to be supplied over the next 12 months. This is for the first time in India that the Public Sector OMC has come out with such a large order for Type-IV LPG Composite Cylinders.

Furthermore, IOCL has said that the same order quantity may be repeated at their discretion for a further period of up to 12 months, on same terms and conditions.

Keeping with the growing demand for LPG Composite Cylinders both domestically and internationally, the Company plans to add additional 1.0 Million cylinder manufacturing capacity with a capital outlay of about Rs. 90 crores in the period of next 12-15 months.

Shares of Time Technoplast Limited was last trading in BSE at Rs. 67.35 as compared to the previous close of Rs. 68.40. The total number of shares traded during the day was 189545 in over 1459 trades.

The stock hit an intraday high of Rs. 71.45 and intraday low of 66.70. The net turnover during the day was Rs. 13019626.00.

Source : Equity Bulls

Keywords

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