Uflex shares jump 9% on new production milestones

Uflex shares surged nearly 9% on Tuesday, April 2nd, after the company announced the commissioning of a CPP film production line at its Russian facility.

As of 10:30 am, the shares were trading 8.81% higher at ₹459.95 on the National Stock Exchange (NSE).

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Flex Films Rus LLC, a step-down subsidiary of Uflex in Russia, has commenced operations of a CPP film production line with an installed capacity of 18,000 MT per year on April 1st.

Additionally, on March 31st, the company achieved the commencement of commercial production at its manufacturing facility in Panipat, Haryana, with an installed capacity of 1,68,000 MTPA.

This Haryana facility will manufacture Poly Condensed Polyester Chips to be used as raw material for BOPET packaging films or sold to third-party customers.

The positive developments and the expansion of production capabilities have fueled investor confidence, leading to the significant surge in Uflex’s share price.

The stock touched a 52-week high of Rs 499.85 on December 28, 2023, and a 52-week low of Rs 335.35 on April 3, 2023.