Promact Plastics Ltd. Detail
I have not find working website for the Company. It gave me tough time to get details about it. It is good to have working website in this age of Information technology. I gathered information about it’s business from other sources.
It is engaged in the manufacture and sale of high-density polyethylene/polypropylene woven fabrics and sacks in India. The company is based in Ahmedabad, India.
Now lets look at performance of this company over the years.As per Dow theory of technical analysis price performance over a period of time reflects Company state.
Promact Plastics Ltd. Stock Performance
Investors like small buildings in left and huge buildings in right. But this stock has exactly opposite.It gave 10 times return in short span of 1 year or more between 2002 and 2004. But since then it struggled to go past 5 INR mark.
It moved past 5 mark only in year 2018 decisively. Many may think it as long term resistance break and make a bet. But since the Company quality is of question I would suggest against it.It has destructed money of investor over the years. So I would suggest not to do swing trading or technical based trading.
Promact Plastics Ltd. My Opinion
Promact Plastics is a Plastics sector Company. It is not the only Plastics Company in portfolio of Subramanian P. He has many other stocks from this sector in his portfolio.
I do like Plastics sector as demand of items created using it is gaining market share. The sector is no doubt good but along with sector you need to see Company performance as well.
The price performance of Company is not good. It does not have any unique business as well. These two things are very important to make a decision about any Company. I do have one stock in portfolio which caters Plastic Industry. As of now I do not want to add other from this sector in my portfolio.
In case you are interested then you can track the company by adding it to your stock watch list. That way you can keep close eye on the Company.