This Industrial Plastic Products company rose 4.4% within the first hour of market open. It has been on an uptrend since July 2022, supported by the 200 day moving average and trading 37% above it. It is currently 24% away from its 52 week high and 152% away from its 52 week low indicating significant increase and potential for further increases.
Shish Industries Ltd (“Shish”) announced a series of actions in its recent filing, all to the effect of capacity expansions to meet production demand requirements it sees in the future. Shish board has approved the acquisition of Varni Packaging for Rs. 54 lakh, which is a sole proprietorship. After acquisition the firm will be incorporated as a wholly owned subsidiary – “Varni Wood & Paper Packaging Pvt Ltd”.
The Company board also approved a 112 lakh machinery acquisition from Tapeplast Industries, a Partnership Firm. At present, the Company is getting the “Tarpaulin” manufactured on an outsourced basis. The purchase of machineries from Tapeplast will enable the Company to manufacture “Tarpaulin” on its own.
Shishi board approved the purchase of machinery by the Company worth Rs. 12 lakh from Stick at Touch, a
Proprietorship Entity. The purchase of machinery from Stick at Touch will enable the Company to manufacture and add to its product mix, – “Paper, Polyester, Maplitho Sticker(s) & Thermal Sticker(s)” at its own facilities.
Another approval received was to shift a manufacturing plant. The company noted that manufacturing facilities will not be disturbed during the shift of plants. New location will be on long term lease, situated at Unit 1 measuring about 4947 sq.m and Unit 2 measuring about 4453 sq.m, both for a period of 25 years.
Shish Industries Limited engages in the manufacturing, trading, and marketing of polypropylene (PP) sheets and rolls in India. Shish Industries’ stock has been on an uptrend since its listing back in 2018. Rising from Rs. 5 at listing to Rs. 122 in roughly 5 years. It has returned 130% YTD, meaning if you invested Rs. 1 lakh into Shish at the start of this year, it would now be worth Rs. 2.3 lakh!
Written by Sandeep R
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