Shares of Cosmo Films gained 11 percent intraday Monday after company introduced a cast polypropylene (CPP) film for packaging applications requiring high moisture & oxygen barrier and high hot tack properties.
The newly launched heat sealable CPP films also offer high hot tack and low seal initiation temperature; enabling packaging machines to run at higher speeds, as per BSE filing.
Pankaj Poddar, CEO at Cosmo Films said, “We see more & more CPP being used globally as well as India as a choice material for packaging applications in food and agriculture owing to its high transparency vis-a vis polyethylene and excellent sealing performance.”
“Cosmo Films with years of experience in the polypropylene space has worked hard to come up with an extensive range of CPP films that it offers today both from functionality as well as monomaterialization standpoint,” he added.
At 10:50 hrs Cosmo Films was quoting at Rs 208.05, up Rs 14.20, or 7.33 percent on the BSE.
The share touched its 52-week high Rs 294 and 52-week low Rs 161 on 27 April, 2018 and 18 February, 2019, respectively.
Currently, it is trading 29.23 percent below its 52-week high and 29.22 percent above its 52-week low.