Uniply moves strong in the Morning Trade

Intraday on Wednesday, Uniply share price is trading above 5 per cent at Rs. 219.90. Till now, around 9,836 shares are traded on the counter with a traded value of Rs. 21.68 lacs, as per NSE.

The Board of Directors of Uniply Industries Ltd have allotted 29,91,187 no's of new fully paid up Equity shares of Rs. 10/- each at Rs. 204.62/- per share on preferential basis to Promoter and Non-Promoter of the Company at their meeting which took place on November 24, 2016.

Pursuant to the above said allotment, the issued, subscribed & paid up equity capital of the Company has hiked Rs. 20,91,60,120/- to Rs. 23,90,71,990/-.

The equity shares allotted as above shall, rank side by side with the current equity shares of the Company and shall be entitled to such dividends and corporate benefits, if announced by the Company after the allotment.

Uniply share price hit an intraday high of Rs. 223 and intraday low of Rs. 211. The stock made its yearly high on 9^th Sept ’16 at Rs. 321.90 and the 52 week low is recorded at Rs. 108 on 12^th Feb ’16. Uniply Industries Ltd., has disclosed 67 per cent rise in its net profit for the 2nd quarter ended September 30, 2016 to Rs. 1.57 crore after the authorizing of its second plant at Gandhidham in Gujarat. The authorizing of Gandhidham unit led to better margins and synergies between the two plants. Till recently, the company was shipping the materials from Uthiramerur plant in Kancheepuram. The freight costs were higher and yielded low margins. From next year, they will start sourcing 100 per cent of timber from domestic market. They have now started to stop trading in higher grade plywoods.

Uniply is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE.  Uniply is fundamentally strong and is safe for investment, as per Dynamic analysts.For further details on the stock refer to Uniply share price history.