Search This Blog

Friday, September 2, 2016

Strong Q1 Numbers Could Not Pull Essel Propack Up


Essel Propack
On 2nd Sept, Essel Propack share price rolled down below 3.68% and was quoting below 8.20 points at Rs. 214.50, despite strong quarterly result. The stock opened at Rs. 219.05 against its previous close at Rs. 222.70, touching the day’s high and low at Rs. 219.05and Rs. 206.85. The stock saw spurt in volume by more than 9.05 times.
Essel Propack , the packaging firm  disclosed a 6.63 percent increase in its consolidated net profit for the June quarter at Rs 37.62 crore. The company had noted a net profit of Rs 35.28 crore in the same period last year, as per the reports of the company. Net sales on consolidated basis went up 3.52 percent to Rs 528.03 crore during the quarter under review as compared to Rs 510.06 crore in April-June period of last financial year. On the other hand,, in a separate filing, Essel Propack mentioned that the Bombay High Court has approved scheme of amalgamation and arrangement of Whitehills Advisory Services Pvt Ltd with Essel Propack on September 1, 2016.
So far during today’s trading session approximately 4,37,756 shares were traded in the counter with a traded value of Rs. 923.62 lacs. The lower price band of Essel Propack share price is at Rs. 178.20 while the upper price band is seen at Rs. 267.20.
Essel Propack , a global tube-packaging company  is headquartered in Mumbai in India. It is part of the Essel Group, and is a specialty packaging manufacturer of laminated plastic tubes for the FMCG and Pharma space.
Essel Propack share price touched its one year high at Rs. 234.00 on 25th August ’16 while the 52 week high of the stock is met on 132.00 on 20th Jan ’16. The company has a market cap amounting to Rs. 3498.65 (Cr) having a book value of Rs. 62.03.
In order to acquire detailed information regarding the support and resistance levels of the stock refer to Essel Propack share price history.

No comments:

Post a Comment