Multinational flexible packaging materials and Solution Company Uflex
has unveiled Asepto
- its aseptic liquid packaging brand. Uflex's aseptic liquid packaging manufacturing plant that will be commercially operational by April 2017, and is in tune with the government's Make In India drive.
The aseptic packages are made by laminating Polyethylene with paperboard and aluminium foil. This multi-layered construction enables the carton to protect the contents from various factors responsible for spoilage, thereby preserving the product freshness and value, the company said.
Ashwani Sharma, President & CEO, New Business Initiatives, Uflex Limited said
, "Aseptic Packaging market in India is majorly classified into 3 segments i.e. juices, dairy products and liquor. Packaging of flavoured milk, other dairy items and liquor in Aseptic packaging material will play a key role in propelling the growth of aseptic packaging in the coming years both in India and overseas. Our total manufacturing capacity of 7 billion packs per annum will cater to 90% of the domestic market demand.
"In APAC, the market growth is around 7% and in India the growth has been in double digits for the last 3-4 years. Presently, the Indian Aseptic Liquid Packaging is growing at 17-18% per annum and the market is expected to double up in the next five years to approximately 20 billion packs per annum," he added.
Uflex Ltd is currently trading at Rs 283.75, up by Rs 0.5 or 0.18% from its previous closing of Rs 283.25 on the BSE.
The scrip opened at Rs 284.7 and has touched a high and low of Rs 288 and Rs 282.95 respectively. So far 58817(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2045.35 crore.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 334 on 27-Oct-2016 and a 52 week low of Rs 132.2 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs 290 and Rs 276 respectively.
The promoters holding in the company stood at 44.02 % while Institutions and Non-Institutions held 12.81 % and 43.18 % respectively.
The stock is currently trading above its 100 DMA.