Sintex Plastics Tech makes strong debut, fall posts listing
08/08/2017
Sintex Plastics Technology, the plastic division of Sintex Industries, made a robust debut on the Bombay Stock Exchange by rising 5 per cent above its listing price of Rs 130. However, the demerged entity soon pared its gain and slipped into negative terrain.The shares of company were currently trading at Rs 126.75 apiece, down 2.5 per cent against issue price. In the day’s trade so far, stocks hits intra-day high and low of Rs 136.50 and Rs 123.60, respectively.In a similar fashion, stocks of company were trading 2.77 per cent lower at Rs 126.40 apiece on the National Stock Exchange.“The equity shares of Sintex Plastics Technology are listed and admitted to dealings on the Exchange in the list of 'T' Group Securities,” said the company in a filing to the Bombay Stock Exchange.As on September 29, 2016, the board of directors of Sintex Industries had approved the scheme of demerger of custom moulding and prefab business into Sintex- BAPL and Sintex Infra Projects respectively. Post the demerger scenario, two companies Sintex Industries and Sintex Plastics Technology were to carry the textile and spinning business and plastics business, respectively.Meanwhile, the broader benchmark BSE Sensex was trading at 32,098.87, down 170.80 points, or 0.54 per cent, at 12:55 hours.
08/08/2017
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Sintex Plastics Technology, the plastic division of Sintex Industries, made a robust debut on the Bombay Stock Exchange by rising 5 per cent above its listing price of Rs 130. However, the demerged entity soon pared its gain and slipped into negative terrain.The shares of company were currently trading at Rs 126.75 apiece, down 2.5 per cent against issue price. In the day’s trade so far, stocks hits intra-day high and low of Rs 136.50 and Rs 123.60, respectively.In a similar fashion, stocks of company were trading 2.77 per cent lower at Rs 126.40 apiece on the National Stock Exchange.“The equity shares of Sintex Plastics Technology are listed and admitted to dealings on the Exchange in the list of 'T' Group Securities,” said the company in a filing to the Bombay Stock Exchange.As on September 29, 2016, the board of directors of Sintex Industries had approved the scheme of demerger of custom moulding and prefab business into Sintex- BAPL and Sintex Infra Projects respectively. Post the demerger scenario, two companies Sintex Industries and Sintex Plastics Technology were to carry the textile and spinning business and plastics business, respectively.Meanwhile, the broader benchmark BSE Sensex was trading at 32,098.87, down 170.80 points, or 0.54 per cent, at 12:55 hours.
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