Texmo Pipes surges 50 per cent post listing
The shares of Texmo Pipes surged over 50 per cent on the listing day against the issue price of Rs 90.
By ET Bureau |
MUMBAI: The shares of Texmo Pipes surged over 50 per cent on the listing day against the issue price of Rs 90. (Watch)
At 10:45 am, the shares of Texmo Pipes were near day’s highs on the NSE at Rs 134.35, up Rs 44.35 or 49.28 per cent. Around 1.61 lakh shares were traded in the counter so far.
On the BSE, the scrip was at Rs 133.35, up Rs 43.35 or 48.16 per cent. It has touched a high of Rs 134.55 and low of Rs 101.50 in trade so far.
TPPL manufactures PVC and HDPE pipes. Its product range includes suction and delivery hose pipe, rigid PVC pipes, elastomeric sealing ring fit PVC Pipe (Gasket Pipe), PVC casing and ribbed screen casing pipes, Soil Waste and Rain Water pipe, plumbing pipe, conduit pipe, caping casing strips, column pipe, HDPE plain pipe and sprinkler pipe.
The company will use the proceeds for the 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 be 41674 MTPA for PVC pipes.
At 10:45 am, the shares of Texmo Pipes were near day’s highs on the NSE at Rs 134.35, up Rs 44.35 or 49.28 per cent. Around 1.61 lakh shares were traded in the counter so far.
On the BSE, the scrip was at Rs 133.35, up Rs 43.35 or 48.16 per cent. It has touched a high of Rs 134.55 and low of Rs 101.50 in trade so far.
TPPL manufactures PVC and HDPE pipes. Its product range includes suction and delivery hose pipe, rigid PVC pipes, elastomeric sealing ring fit PVC Pipe (Gasket Pipe), PVC casing and ribbed screen casing pipes, Soil Waste and Rain Water pipe, plumbing pipe, conduit pipe, caping casing strips, column pipe, HDPE plain pipe and sprinkler pipe.
The company will use the proceeds for the 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 be 41674 MTPA for PVC pipes.
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