Prince Pipes rises 16%

Prince Pipes and Fittings, yesterday announced that it has entered into a 3-year technical collaboration with Tooling Holland BV, a global leader in the international plastic injection moulding industry based in The Netherlands.

Tooling Holland BV is a privately held company with over 30 years of experience in the development and production of Injection Moulds. The company specializes in the manufacture and exports of moulds for fittings (16-1000mm), crate and container moulds, thin wall packaging moulds and PET preform moulds. Tooling Holland exports products to worldwide operating major fitting- and pipe producers.

This association will enable Prince Pipes to draw upon Tooling Holland’s technical expertise and deep knowledge, build skills at par with international standards, significantly enhance internal operational efficiencies, optimize production costs.

The market has reacted positively to this news. The stock price, which had hit the 20% UC yesterday at Rs.122.25, today, it rose over 16% to hit an intraday high at Rs.142.05. Its UC of today is at Rs.146.70.