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