Texmo Pipes ends 55% higher on debut
By ET Bureau |
MUMBAI– Shares of Texmo Pipes witnessed a stellar listing Wednesday and ended 55% higher against its issue price of Rs 90 per share.
On the NSE, the scrip closed at at Rs 139, up Rs 49 or 54.44 per cent . It touched a high of Rs 139.90 and low of Rs 92.80. Around 4.05 crore shares were traded in the counter.
On the BSE, it closed at Rs 137.25, up Rs 47.25 or 52.50 per cent. It touched a high of Rs 140.70 and low of Rs 101.50 on volume of 3.36 crore shares.
TPPL manufactures PVC and HDPE pipes, with a product range including suction & delivery hose pipes, rigid PVC pipes, elastomeric sealing ring fit PVC Pipe (Gasket Pipes), PVC casing & ribbed screen casing pipes, Soil Waste & Rain Water pipes, plumbing pipes, conduit pipes, caping casing strips, column pipes, HDPE plain pipes, sprinkler pipes, etc.
The company will use the proceeds in expansion of its product range by introducing products like CPVC, Drip Inline and DWC pipes. It plans to also set up manufacturing facilities for injection mouldings / fittings and woven sacks. With this, the installed capacity of the company would become 41674 MTPA for PVC pipes.
On the NSE, the scrip closed at at Rs 139, up Rs 49 or 54.44 per cent . It touched a high of Rs 139.90 and low of Rs 92.80. Around 4.05 crore shares were traded in the counter.
On the BSE, it closed at Rs 137.25, up Rs 47.25 or 52.50 per cent. It touched a high of Rs 140.70 and low of Rs 101.50 on volume of 3.36 crore shares.
TPPL manufactures PVC and HDPE pipes, with a product range including suction & delivery hose pipes, rigid PVC pipes, elastomeric sealing ring fit PVC Pipe (Gasket Pipes), PVC casing & ribbed screen casing pipes, Soil Waste & Rain Water pipes, plumbing pipes, conduit pipes, caping casing strips, column pipes, HDPE plain pipes, sprinkler pipes, etc.
The company will use the proceeds in expansion of its product range by introducing products like CPVC, Drip Inline and DWC pipes. It plans to also set up manufacturing facilities for injection mouldings / fittings and woven sacks. With this, the installed capacity of the company would become 41674 MTPA for PVC pipes.
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