Curated By: Business Desk
Last Updated: September 07, 2023, 12:09 IST
In September 2001, the share price was Rs 4 which is now Rs 1,396.
Garware Hi-Tech Films is the leading producer and provider of high-quality tensile polyester films, solar control films and paint protection films globally.
In its coverage of Garware Hi-Tech Films, domestic brokerage firm Sharekhan, expected a 20 per cent upside from the stock’s previous closing price of Rs 1,329. In a positive development, the shares of Hi-Tech Films, an export-oriented global speciality film producer, have been on a consistent winning streak. Notably, the last five months, i.e. from March 2023 to August 2023, have witnessed impressive gains. Till now, it has witnessed a remarkable surge of 171 per cent from Rs 491 in March.
Garware Hi-Tech Films is the leading producer and provider of high-quality tensile polyester films, solar control films and paint protection films globally. Not only this, the company is also the sole manufacturer of solar control window films (SCF) in India. As of now, the company is known to sell its products in 80 countries across the world, accounting for 69 per cent of sales.
Notably, the company’s stock, in the last 22 years, has risen by 34,806 per cent. It can be understood from the fact that in September 2001, the share price was Rs 4 which is now Rs 1,396. Brokerage and experts have suggested buying the stock. The stock has proven to be beneficial for its long-term investors. On September 6, 2023, the share price jumped up to 6 per cent. However, it closed with a net profit of 5.04 per cent.
For example, if an investor invested Rs 29,000 in the company 22 years ago, they would have become a millionaire by now. Given the price of the stock at Rs 1,396 per share, the value of these total shares would have exceeded Rs 1.01 crore. Surprisingly, the shares were priced at Rs 492.05 on March 28, 2023. Now, it has reached Rs 1406.55 with a gain of 186 per cent.
Brokerage firm Sharekhan, while describing the company’s position, reported that there is a possibility of a further increase in the prices of shares as the company is aiming at further increasing the capacity of value-added products. The firm has also set a target price of Rs 1,600 for this particular stock.
