Century Ply up 12%

Century Ply, since the opening bell today has been among the top five gainers on the BSE. The stock opened 1% higher at Rs.754.55 and rose to an intraday high at Rs.837.15, up more than 12%. Its 52-week high and low stands at Rs.938.60 and Rs.614.25 respectively.

The reason for this sudden spurt in the stock price? The company has set up a wholly owned subsidiary (WOS), Centuryply Furniture Fittings (CFFL), in Kolkata, which will manufacture fittings and fixtures for furniture.

This has been incorporated with an initial subscription of 50,000 equity shares priced at Rs 10 each.

This is perfect forward integration as it is a market leader in multi-use plywood and decorative veneers in the Indian organised plywood market. Its Borer Proof Plywood, Boiling Water Resistant (BWR) Decorative Veneers and Laminates, Fire Retardant plywoods, its products on offer are industry benchmarks.