Share price Time Technoplast gained 3.7 percent intraday Tuesday after company received order Europe.
The company has received a prestigious order from a buyer in Europe for export of 5,00,000 composite cylinders with a total value of over Rs 115 crore.
This order is planned to be executed by end of calendar year 2019.
The buyer has advised that the business potential is much larger and they would consider placing order for additional quantities as the deliveries against the present order gets underway. Discussions are also on for immediate purchase of composite cylinders of other denominations for different applications, as per company release.
The company has wide range of composite cylinders in its product portfolio (2kg -22kg capacity) duly certified and approved under ISO and European standards. Company is already exporting these composite cylinders to over 28 countries across the world.
At 13:16 hrs Time Technoplast was quoting at Rs 84.60, up Rs 0.50, or 0.59 percent on the BSE.
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