Jan 10: Sintex Plastics Technology Ltd (BSE: 540653, NSE: SPTL) is a leading producer of PVC water tanks, doors, electrical, SMC products, industrial products, prefabs etc. is expected to perform better on turnaround in realty and construction projects in India. The scrip has already risen from Rs 83 levels at the beginning of the year to 94 levels at present.
The company has been able to reduce net debt utilising positive cash flows, effective management of working capital and low capital expenditure. The company earned a net profit of Rs 26.06 cr in September quarter.
The group has global manufacturing presence across 9 nations, 4 continents with state-of-the art technologies and 35 manufacturing facilities. Clients include Fortune 500 companies across Aerospace and Defense, Electrical, Medical Imaging, Decorative Parts, Household Appliances among others.
Last year the demerger of ‘custom molding’ and prefab business from Sintex Industries had taken place. It was merged with Sintex-BAPL and Sintex Infra Projects respectively as wholly-owned subsidiaries of Sintex Plastic Technology Ltd (SPTL).
On technical charts, RSI of 72.43 is bullish, MACD has witnessed a bullish crossover signalling a buy, while ADX of 21.69 indicates range bound trading.