Amid sell-off in equities led by global headwinds including rate hike by global central banks to combat inflationary pressure, Indian markets have also seen an impact. On a YTD basis, both Nifty 50 and Sensex have come crashing down by 9.5% each.
In this mayhem, the one stock that has defied market sentiment is the micro-cap packaging concern G K P Printing & Packaging.
On Friday (June 24, 2022), the BSE-listed stock ended higher by 1.2% at Rs. 185.05 apiece. In 1-month's time the stock has gained 25.59% from Rs. 147 a month ago. Worth noting the stock in a year's time has given a stupendous return of 648%, surging from a price of Rs. 25 per share to the current level. In the current calendar year so far, the stock has moved higher by over 26%. The 3-year return from the stock is 825%.
As per the leading dailies report, for the last 11 sessions, the scrip has been showing a positive momentum.
On June 23, 2022, the company through the BSE filing provided an update on new manufacturing location. Regarding the same, the company's filing said, "In compliance of Regulation 30 of the SEBI Regulations, 2015 and w.r.t our earlier announcement dated 11th February 2022 regarding acquiring land measuring 43,234 sq. ft. situated in Vapi for shifting of existing Manufacturing facilities and expansion of Business.
We further would like to update that the company has received Permission to Construct on
Land measuring 43,234 sq. ft. situated in Vapi for New Expansion of Business from Town
Planning Authority dated 22 nd June 2022".
The company with the current m-cap of Rs. 271 crore provides packaging solutions. The Company manufactures corrugated boxes, rolls, partitions and other packaging materials.