In the morning trade, Time Technoplast rose 2.5% to Rs.148.80, after which it slipped a bit but remains in the green at Rs.145 levels. Volumes are less than 10,000.
The activity on the counter is account of the announcement that it has won an order worth Rs 40 crore from an engineering and construction contractor for its newly launched multilayer pipes.
There are several other projects for similar product / application at finalization stage and Company is striving to secure sizeable part of oncoming demand.
This new order is for the new product recently launched - multilayer pipes for power / communication cable ducts with silicone in-lining. It has also developed associated components to offer as a complete package. These technology driven innovative products conform to international standards and are used for high performance applications. Such pipes/ ducts are being introduced for the first lime in the country and have substantial business potential.