TCPL Packaging rises for 4th day; up over 92% YTD

11 Jul 2022 , 02:42 PM

The stock has added 23.15% in four sessions, from its recent closing low of Rs 810.20 recorded on 5 July 2022. On a year-to-date (YTD) basis, the stock has zoomed 92.11% while the benchmark Sensex has declined by 6.49% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 71.483. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock is trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 822.51, 788.17 and 659.62, respectively. These levels will act as crucial support zones in near term. On Friday (8 July 2022), TCPL Packaging said that its wholly-owned subsidiary TCPL Innofilms had commenced the commercial production of polyethylene (PE) blown film. TCPL Packaging is one of Indias leading producers of sustainable packaging solutions for customers across industries. The company partners with customers to provide paperboard-based packaging solutions including folding cartons, printed blanks and outers, litho-lamination, plastic cartons, blister packs, and shelf-ready packaging. TCPL has also ventured into the flexible packaging industry, with capability to produce printed cork-tipping paper, laminates, sleeves, and wrap-around labels. The company reported 47.1% rise in standalone net profit to Rs 18.5 crore on a 31% increase in revenue to Rs 322.9 crore in Q4 FY22 over Q4 FY21. Powered by Capital Market – Live News