But one distinct advantage GST will bring to the organised sector, will be providing a level playing field, because the exemption limit is restricted to 20 lakhs. All small ply units will go out of exemptions. So for the organised sector, the unhealthy competition will drastically reduce. And also, there is possibility of migration of good quantity of material from the unorganised to organised sector. Thus, the organised sector can increase the 30% market share limit and can extend to 50%â€ť, said Sajjan Bhajanka, Chairman of CenturyPly.
â€śThe GST agreements are happening at unbelievable speed. The rates and exemption limit were major hurdles. I now believe that GST will come. I suggest that items for each slab should be decided with full practical logic so that the incidence is reduced to some extent. I congratulate WB Finance Minister, Amit Mitra and all the members of the council for such a pragmatic approach and actionâ€ť, said Sanjay Agarwal, MD of CenturyPly.
Century Plyboards (India) Ltd ended at Rs 230.45, down by Rs 5.95 or 2.52% from its previous closing of Rs 236.4 on the BSE.
The scrip opened at Rs 242 and touched a high and low of Rs 242 and Rs 229.9 respectively. A total of 95382(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 5117.75 crore.
The BSE group 'B' stock of face value Rs 1 touched a 52 week high of Rs 267 on 20-Oct-2016 and a 52 week low of Rs 135.45 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 257 and Rs 228.1 respectively.
The promoters holding in the company stood at 72.21 % while Institutions and Non-Institutions held 18.06 % and 9.73 % respectively.
The stock traded below its 50 DMA.
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