Sintex Industries Gains on Plastics, Textile Units Outlook

Continued buying by institutions is propelling the shares and the highly anticipated listing of Sintex Plastics will act as next catalyst, says Soumen Chatterjee, head of research at Guiness Securities.

• Demerged unit Sintex Plastics to list soon and the downstream polymer space looks “very attractive,” says Chakri Lokapriya, managing director of TCG Advisory Services Ltd., which manages about $3b in assets
• Sintex Industries rises as much as 7.5%; trading volume 176% of 3-month full-day average
  • SINT surged about 149% this year vs 20% rise in benchmark Sensex
• NOTE: On July 12, Morgan Stanley France bought 3.57m shares at 28.95 rupees apiece yesterday via block deal