India's Cosmo Films hits record high on plans to set up BOPP production line

Cosmo First

17/09/2021 07:12

** Indian manufacturer of films for packaging, synthetic
paper  CSFL.NS  share up as much as 7.7% to scale a record peak
at 1,610.85 rupees 
    ** Co says https://www.bseindia.com/xml-data/corpfiling/AttachLive/128c8442-0329-40f5-bc45-acde0014f2c2.pdf
 it will set up the world's largest biaxially oriented poly
propylene (BOPP) film production line at Aurangabad,
Maharashtra, with annual capacity of 67,000 MT
    ** BOPP films are commonly used for food packaging and
lamination purposes
    ** CSFL says the BOPP line will require investment of about
3.50 billion rupees ($47.65 million)
    ** Co says production line expected to start commercial
production within FY 2024-25
    ** More than 200,000 shares traded by 0549 GMT, 1.1 times
their 30-day avg of 179,098
    ** As of last close, CSFL has gained over three-fold this
year 

($1 = 73.4550 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))