Shares of Time Technoplast surged in Tuesday’s trade, extending their gains for the second straight session after receiving repeat order from Adani Total Gas. The stock jumped as much as 18.78 per cent to hit a day high of Rs 99.60 over its previous close of Rs 83.85.
A total of 2.95 lakh shares changed hands today with a turnover of Rs 2.74 crore. The company’s market capitalisation or m-cap stood at Rs 2,059.07 crore.
On BSE, there were 1,78,390 sell orders against buy orders of 78,949 shares. On NSE, a total of 37,53,440 shares changed hands with a turnover of Rs 34.81 crore.
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At today’s high level of Rs 99.60, Time Technoplast has lost 20.89 per cent compared to its 52-week high of Rs 125.90, hit in September this year. That said, the stock has gained 57.84 per cent from its one-year low level of Rs 63.10, touched in February 2022.
The scrip has slipped 1.26 per cent in the previous five sessions. On a year-to-date (YTD) basis, it has climbed 16.98 per cent.
“We have pleasure to inform that the company has received prestigious repeat order from Adani Total Gas for supply of CNG Cascades made from Type-IV Composite Cylinder for a total value of Rs 75 crore (appx). The delivery of these cascades will begin from January 2023,” the company stated in an exchange filing.
The stock traded at a 14-day relative strength index (RSI) value of 32.57. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company’s stock has a price-to-equity (P/E) ratio of 18.51.
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Meanwhile, Indian equity benchmarks slip into the red in early deals today, dragged by banking and financial stocks.