The scheme has already been sanctioned by NCLT, Allahabad Bench on April 7, 2017, the company said in its regulatory filing.
Shares of the company have given a negative return of 9% in a period of one year and underperformed the BSE Small Cap and Nifty Commodities' indices over the same time period.
Jindal Poly Films is a producer of polyester and bi-axially oriented polypropylene (BOPP) films (plain, metallised and coated), which are mainly used in the flexible packaging industry. Its segments include plastic films, photographic products and non-woven fabrics.
Jindal Poly Films Ltd is currently trading at Rs 388, up by Rs 1 or 0.26% from its previous closing of Rs 387 on the BSE.
The scrip opened at Rs 387 and has touched a high and low of Rs 391 and Rs 387 respectively. So far 18794(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1694.53 crore.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 476.1 on 17-Mar-2017 and a 52 week low of Rs 300 on 27-Dec-2016. Last one week high and low of the scrip stood at Rs 403.5 and Rs 385 respectively.
The promoters holding in the company stood at 74.55 % while Institutions and Non-Institutions held 5.09 % and 20.37 % respectively.
The stock is currently trading below its 50 DMA.
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