At 10:48 a.m., the company's share was trading at Rs 60.75 after gaining Rs 10.10 or 19.94%.
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Linc Pen & Plastics Stock News, Analyst Calls And Reviews
Kolkata-based Linc Pen & Plastics inked a ‘Business and capital alliance deal' with Mitsubishi Pencil Co. of Japan with the aim to issue 2 million equity scrips of Rs 10 each at Rs 100 per share, amounting to a 35% equity stake on the stretched capital of around Rs 14.8 crore.
The Rs 250-crore Linc Pen has a distribution agreement with Mitsubishi Pencil for its Uni / Uni-ball brand since the year 1992.
The key aim of the ‘capital alliance' is to perk up Mitsubishi Pencil's market share and the Uni / Uni-ball brand development in the country by employing Linc Pen's sales / marketing and production potentialities and Mitsubishi Pencil's product growth, and writing instrument technology ability.
The novel development is witnessed as a combined move to reinforce the connection between the two firms that could serve to open novel avenues of commercial increase for both parties.
The Uni / Uni-ball brand from Mitsubishi Pencil contributes nearly 15% to Linc's domestic income and it is likely that the said capital affiliation will considerably augment the contribution of the Uni / Uni-ball brand to Linc's overall sales income.
Linc Pen, listed on the BSE and the CSE, is a maker and exporter of quality writing instruments.
The stock looks good for medium or long term investment.
The investors can buy the stock on declines.
At 10:48 a.m., the company's share was trading at Rs 60.75 after gaining Rs 10.10 or 19.94%.
Linc Pen & Plastics shares soars 20% on BSE on wednesday
