Time Technoplast’s shares surged 3% after announcing the expansion of its polyethylene (PE) pipe segment to serve the gas distribution industry. As of 9:54 AM, the shares were trading 3.34% higher at Rs 364.65.
The company will manufacture high-quality PE pipes for gas distribution, leveraging their lightweight properties, durability, and extended lifespan. Already a key player in the PE pipe industry, Time Technoplast supplies pipes for water supply, irrigation, sewage treatment, power plants, and cable ducting across India.
Currently serving over 20 gas distribution companies, the company aims to market its new PE pipes to existing and potential clients. The expansion is designed to maximize capacity utilization with minimal modifications to its manufacturing processes. Time Technoplast anticipates a 30% growth in its PE pipe segment following this development.
Backed by an in-house R&D team, the initiative includes a ₹8 crore capital expenditure (CAPEX) for automation, product development, and expansion. The company expects to complete product development and secure Bureau of Indian Standards (BIS) certification within four months, with commercial benefits projected from Q2 FY2025-26.
This expansion aligns with India’s key infrastructure projects, including the PM Ujjwala Yojana and Smart City initiatives. With the global PE pipe market set to reach $13.7 billion by 2029, increasing demand for gas distribution networks and urban infrastructure is expected to drive further growth.
Time Technoplast shares opened at ₹352.00, reaching a high of ₹366.60 and a low of ₹347.60. The stock’s 52-week high stands at ₹513.55, while the 52-week low is ₹189.25.
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