Mold-Tek Packaging receives LoA from Grasim Industries' Birla paints division

10 Oct 2022 , 10:05 AM

Mold-Tek Packaging Limited informed that the company has received a “Letter of Award” (LOA) from Grasim Industries Limited- Birla Paints Division for the supply of Packing Material (PAILS). To cater to their demands, the company intends to set up a co-located plant in Panipat.

The company stated that the new facility is planned to be built and operational by the end of the calendar year 2023. As per the company, it requires an estimated cost of Rs30 crore.

In addition, the company intends to establish Food and FMCG IML container production facilities in Panipat to meet the demand for these items in Northern India.

At around 10.03 AM, Mold-Tek Packaging was trading 1.87% lower at Rs872.75, against the previous close of Rs889.10 on NSE. The counter opened at Rs889.95 and hit an intraday high and low of Rs909.90 and Rs869.45 respectively.

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