Ambit Capital begins coverage on India's Mold-Tek Packaging with "buy"

Mold-Tek Packaging

24/04/2023 09:34

** Shares of Mold-Tek Packaging Ltd  MOLT.NS  rise as much
as 6.22% to 968.45 rupees, highest in over six weeks
    ** Ambit Capital Research initiates coverage with "buy" and
PT of 1,250 rupees, 37% higher than Friday's close of 911.75
rupees
    ** Co stands out in the crowded packaging industry due to
innovative offerings, cost optimisation, and unique polymer
processing capabilities, says Ambit
    ** Adds that co has all the ingredients to become similar to
American plastic packaging firm Berry Global in India
    ** Ambit sees multiple growth levers for co over next three
to four years
    ** Trading volume is 60,022 shares as of 1:53 p.m. IST,
nearly twice the 30-day avg
    ** Average rating of seven analysts close to equivalent of
'buy;' median PT is 1,082.50 rupees - Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))