Time Technoplast shares in news today, here’s why

Shares of Time Technoplast are in news today after the plastics products firm said the firm has received final approval from Petroleum and Explosives Safety Organization (PESO) for the manufacturing and supply of high-pressure type-IV composite cylinders for hydrogen.

On Thursday, shares of Time Technoplast ended flat Rs 297.10 on BSE. Time Technoplast stock opened higher at Rs 301 in the same session. Market cap of the firm stood at Rs 6,742 crore. Total 0.22 lakh shares changed hands amounting to a turnover of Rs 66.96 crore on BSE.

Time Technoplast stock has a one-year beta of 1.1, signaling high volatility during the period. In terms of technicals, the relative strength index (RSI) of Time Technoplast stood at 58.7, signaling it's trading neither in the overbought nor in the oversold zone.

Time Technoplast shares stand higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Time Technoplast shares have rallied 142.73% in a year and risen 60.51% in 2024.

“Subsequently, we submitted the cylinders for joint testing and inspection to the approving authority for final approval. We are pleased to announce that we have received final approval from PESO for the manufacturing and supply of high-pressure type-iv composite cylinders for hydrogen. We are proud to be the first company in India to receive final approval for the manufacturing and supply of Type-IV Composite Cylinders for hydrogen. This milestone signifies a significant advancement in our efforts towards sustainable green energy,” said the firm in a communication to bourses.