Sintex Plastics stock falls after strong debut on BSE, NSE

Sintex Plastics Technology, a subsidiary of Sintex Industries, listed on the BSE and NSE today.

The stock briefly hit the upper circuit of 136.5 level between 10:00 am and 10:30 am and subsequently fell to intra day and 52-week low of 123.60 on the BSE.

At 1228 hours, the stock was trading 3 percent or 4 points lower at 126.05 level.

Around 47.05 crore Sintex Plastics shares were traded on the BSE till 12:30 pm.

Sintex Plastics makes prefabricated structures, custom moulding and storage tanks.

On September 29, the Sintex Indsutries board cleared the scheme of demerger of custom moulding and Prefab business into Sintex-BAPL and Sintex Infra Projects, respectively.

Meanwhile, the Sensex and Nifty were trading 176 and 52 points lower at 32,097 and 10,004 levels, respectively.