BPL share price hits upper circuit for 10th session in a row on healthy outlook; stock up 86 per cent in 2 weeks – check details here

Hitting an upper circuit of 5 per cent for the tenth straight trading session, the shares of BPL, a consumer electronics company, has touched a new 52-week high of Rs 60.75 on the BSE today.

The stock in the last one year has hit Rs 60 per share level for the first time: PTI

Hitting an upper circuit of 5 per cent for the tenth straight trading session, the shares of BPL, a consumer electronics company, has touched a new 52-week high of Rs 60.75 on the BSE today.

The stock in the last two weeks have surged over 86 per cent as compared to a 0.04 per cent decline in the S&P BSE Sensex at 58,232 levels at 01:34 pm.

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More than 90,000 equity shares exchanged hands on the counter and there were pending buy orders for 534,599 shares on the NSE and BSE, the exchange data shows.

BPL in its annual report on Tuesday said the electronic industry is poised for better growth, buoyed by the government's 'Make in India' policies, and at present, around 85 per cent of Printed Circuit Boards (PCBs) are imported by and therefore this is one of the components that are being seriously considered for import substitution.

BPL terms this as a huge opportunity and the electronic manufacturing companies have participated in the Production Linked Incentives (PLI) schemes of the government and expanded their capabilities and capacities, the company said

"The size and quality of new business opportunities have grown considerably over the past few months. The company has taken appropriate steps towards strengthening the PCB Portfolio, through working on new products like RF PCBs. These new products represent a profitable new direction for the company's PCB Division," BPL said in the financial year 2020-21 (FY21) annual report.

The company added new customers like Havells, Crompton Greaves during FY20 that are likely to support the envisaged increased sales from the manufacturing of PCBs. PCB sales were around 22 per cent of the company's revenue in FY20 which increased to around 69 per cent in FY21.

The stock in the last one year has hit Rs 60 per share level for the first time, as it has been trying to break the resistance level of Rs 40 per share level in July this year.

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