WHAT'S DRIVING THIS MULTIBAGGER STOCK’S REMARKABLE PERFORMANCE?
Published By MintGenie Team | 22 Mar, 2024
Time Technoplast, a leading polymer products manufacturer, has witnessed remarkable share growth over the past four years, rewarding shareholders handsomely.
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Despite facing two years of decline in CY18 and CY19, the company's shares made a sharp recovery in the subsequent year and have maintained an upward trend since then.
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Over the last four years, shares have surged from <span class='webrupee'>₹</span>24 apiece to the current trading price of <span class='webrupee'>₹</span>207, marking a significant gain of 762%.
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In the last 11 months, the stock has finished 10 in the green, with notable monthly gains observed in June (28%) and February (25%).
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Recently, on February 20, the stock hit a new all-time high of <span class='webrupee'>₹</span>233.90 apiece, surpassing its previous high of <span class='webrupee'>₹</span>232.80.
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Time Technoplast received approval from the Petroleum and Explosives Safety Organization on March 19 to manufacture high-pressure Type-IV composite cylinders for hydrogen.
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The company is the first in India to receive this manufacturing approval, signaling a significant step towards sustainable green energy solutions.
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Time Technoplast is a global leader in technology-based polymer and composite products, with subsidiary companies operating worldwide.
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Its diverse portfolio caters to various industry segments, including industrial packaging, lifestyle products, material handling, infrastructure, and automotive components.
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In Q3 FY24, the company showcased robust performance, with a 47% surge in standalone net profit and a notable increase in revenue from operations, demonstrating strong growth momentum.