Tinna Rubber at 10% UC

Tinna Rubber was buzzing loud today morning, opening over 2% higher at Rs.362.90 and soon going on to hit the 10% UC of the day at Rs.390.05. Its 52-week high is at Rs.404.35, hit in April’22.

It is basically a company converting waste tyres into downstream value-added products, an End of Life Tire Material Recycler. The company converts waste tyres into medicine droppers, conveyor belts, roads, sports turf, gym tiles, rubber mats and new tyres.

But more than this, its identity on Dalal Street is that it is a “Dolly Khanna” stock.

The only recent event in the company is that yesterday it announced that its Board will meet on 30th July for considering Q1FY23 earnings and the spurt in price we see today is purely driven by anticipation.

The company had ended Q4FY22 with a more than 3x (YoY) jump in net profit at Rs.5 crore on a 42% rise in revenue at Rs.64 crore.

Currently promoters hold 73.81% stake and Dolly Khanna holds 1.83%, up from 1.6% held at end of Q4FY22.