Essel Propack is currently trading at Rs 18.20, up by 2.80 points or 18.18% from its previous closing of Rs 15.40 on the BSE.
The scrip opened in the green at Rs 16 that has remained the low for its trade so far and has touched a high of Rs 18.45. So far, 5,20,828 shares were traded on the BSE
The BSE group ‘B’ Small-cap stock touched a 52 week high of Rs 36.50 and a 52 week low of Rs 9.50.
Essel Propack, involved in manufacturing of laminated tubes for oral care and fast moving consumer goods (FMCG) products globally, is considering buying a considerable stake in a UK-based company, Betts.
The Essex-based tube maker is facing the heat since it has breached a banking agreement. The valuation would be cheaper for acquirer as the company is placed under administration over the breach of agreement, if the experts are to be believed.
Essel Propack's share in global laminated tubes segment is 32% whereas Betts enjoys around 14% share of the same segment. The UK-based company was acquired by private equity firm Gresham for 110 million pound in 2007.
Betts would be a perfect fit for Essel, who is growing inorganically. Essel had acquired Catheter & Disposables Technology, a supplier of specialised medical disposable devices from US, last year.
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