ICICI Direct has given Buy recommendation for Mold-Tek Packaging recommended buy rating on the stock with a target price of Rs 850 in its research rep with a target price of Rs. 850 in its research report issued on Jan 28, 2022

ICICI Direct’s research report on Mold-Tek Packaging

Mold-Tek Packaging is a leading player in the rigid packaging business and is into manufacturing decorative packaging containers for paint, lubricant, FMCG & foods (F&F) industry. It was the first to introduce in-mould label (IML) decorative products and QR coded packaging products in India • While new product launches helped drive profitability of the company, its balance sheet remained strong with RoCE, RoE of ~21%.

Outlook

We maintain our BUY rating on the stock. We have a target price of Rs 850/share on the stock. We value the stock at 23x P/E on FY24E EPS.

More Info on Trent

At 17:30 Mold-Tek Packaging was quoting at Rs 713.55, up Rs 4.95, or 0.70 percent.

It has touched an intraday high of Rs 738.00 and an intraday low of Rs 710.00.

It was trading with volumes of 6,029 shares, compared to its thirty day average of 6,160 shares, a decrease of -2.13 percent.

In the previous trading session, the share closed down 1.12 percent or Rs 8.05 at Rs 708.60.

The share touched its 52-week high Rs 862.15 and 52-week low Rs 327.10 on 13 December, 2021 and 08 February, 2021, respectively.

Currently, it is trading 16.72 percent below its 52-week high and 119.5 percent above its 52-week low.

Market capitalisation stands at Rs 2,160.73 crore.

Leave a Reply

Your email address will not be published.