GKP printing outperforms in terms of expansion and NSE listing buzz
Jul 05, 2022
Mumbai (Maharashtra) [India], July 5 (ANI/PNN): GKP printing is trading at an all-time high in a volatile market on expansion news. Stocks touched fresh levels of 199 in today's session, delivering returns of 31 per cent in one month. The stock is in the news as the company's board is meeting on July 6 to consider an application for a direct listing on the main NSE platform. The company has also recently informed exchanges about acquiring land of 43234 sq ft situated in Vapi to shift existing manufacturing facilities and expand the business.
The company has received permission to construct on land measuring 43,234 sq. ft. situated in Vapi for the New Expansion of Business from the Town Planning Authority dated June 22nd, 2022.
Ravi Singhal of GCL Securities believes the stock is on a higher high trajectory with unlimited upside potential. Since volume-based buying has been observed on the counter, stocks have the potential to reach 250 levels. One can look to buy the stock for a target price of $250 with a stop loss of $180.
Talking about the company's financial performance, the company's annual revenue growth of 81.88 per cent outperformed its 3-year CAGR of 28.75 per cent.
G. K. P. Printing & Packaging Limited was originally incorporated as a public limited company in Maharashtra on April 3rd, 2018. The company is an ISO 9001:2015 certified company engaged in the manufacturing of corrugated boxes. It deals in various types of corrugated boxes such as master cartons, mono cartons, Honeycomb partition boxes, die-cut self-locking boxes, storage bins, adjustable depth book flaps, ring flap boxes, and unit cartons.
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