Shaily Engineering Surges Over 7%; Stock Up Nearly 54% In Six Months
Shaily Engineering Plastics Ltd. share price rose above 7% on Tuesday to trade higher at Rs 2,324 apiece. The stock had gained 2.45% on Monday before declining nearly 1% at market close.
The stock has risen 3.26% in the last one month and 40.42% in the last three months. Similarly, in the past six months, the scrip has risen 53.90%.
About Shaily Engineering Plastics Ltd.
The company was established in 1987 by Mike Sanghvi and is now India’s largest exporter of plastics components, the company said on its website.
The company employs over 2000 employees across seven manufacturing units and has over 200 injection molding machines, with precise, high-speed automated and robotic production lines, it further said.
Products and Services
The company manufactures and supplies goods to some of the biggest names across various industries. They supply products for the medical, healthcare, and consumer sectors, as well as critical components for the automotive industry. Alongside commodity polymers, the company specializes in high and ultra-high performance polymers and are the only licensed processor of Torlon in India, the company’s website said.
Stock Performance
The scrip rose as much as 7.55% to Rs 2,324 apiece. It pared gains to trade 5.13% higher at Rs 2,271.60 apiece, as of 10:17 a.m. This compares to a mixed advance/decline in the NSE Nifty 50 Index.
It has risen 142.84% in the last 12 months. Total traded volume so far in the day stood at 45 times its 30-day average. The relative strength index was at 56.
Analyst Recommendations
Out of four analysts tracking the company, two maintain a ‘buy’ rating, two recommend a ‘hold,’ and none suggest ‘sell,’ according to Bloomberg data. The average 12-month consensus price target implies an upside of 3.7%.
Investors looking to invest in Shaily Engineering Plastics Ltd. should consider the company’s strong financials and growth prospects. The company’s expertise in high and ultra-high performance polymers and its position as the only licensed processor of Torlon in India make it an attractive investment opportunity.
However, investors should also consider the risks associated with investing in the stock market, including market volatility and economic uncertainty. It is essential to do your own research and consult with a financial advisor before making any investment decisions.
Conclusion
In conclusion, Shaily Engineering Plastics Ltd. is a company with strong growth prospects and a solid financial foundation. The company’s expertise in high and ultra-high performance polymers and its position as the only licensed processor of Torlon in India make it an attractive investment opportunity. However, investors should always consider the risks associated with investing in the stock market and do their own research before making any investment decisions.
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