NEW DELHI: The shares of
Sintex Plastics Technology, the subsidiary of
Sintex Industries, fall 5 per cent in today's trade after making its debut at Rs 130 on Bombay Stock Exchange.
During early trade, the stock rose 5 per cent to hit a high of Rs 136.50 on good buying but as the market started drifting sharply lower, the stock lost its upper momentum.
The equity shares of Sintex Plastics Technology is listed on the exchange in the list of T group (Trade-for-Trade) of securities. The scrip will trade in this segment for 10 trading days.
Sintex Plastics Technology was demerged from Sintex Industries in May 2017. In September last year, Sintex Industries board had approved demerger of its custom moulding and prefab businesses into Sintex-BAPL and Sintex Infra Projects, respectively. Both this businesses are wholly owned subsidiaries of Sintex Plastics Technology.
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