Manjushree Extrusions has surged to an intraday high of Rs 66 before closing the day with a gain of Rs 7.7 or 17.11% at Rs 52.70 as against offer price of Rs 45. It traded with volumes of 3,15,92,603 shares. It has touched a low of Rs 47 though opened at Rs 48 on the BSE.
Vimal Kedia, Managing Director of Manjushree Extrusions says 70% of expansion already done and full growth is expected for the coming financial year.
Speaking to CNBC-TV18 Kedia said, “We foresee our topline to grow by 50% and the bottomline by 100%. We should be achieving Rs 130 crore of turnover during next year.”
The company had come out with its follow on public offer of 51,26,100 equity shares of Rs 10 each for cash at a premium of Rs 35 per share and collected nearly Rs 23.07 crore.
Manjushree provides packaging solutions through manufacture of speciality plastic packaging products for multinational companies with whom the company enjoys a preferred supplier status, in FMCG, pharma, food processing and agrochemical sectors through an ongoing process of research oriented design and development.
Source: Moneycontrol.com
Thursday, February 28, 2008
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