Kanpur Plastipack Achieves 52-Week High Amid Broader Market Decline

Kanpur Plastipack, a microcap player in the packaging industry, has made headlines today by reaching a new 52-week high of Rs. 227.15. This milestone was achieved amidst a challenging market environment, as the Sensex experienced a decline of 465.33 points, reflecting a broader negative sentiment with a drop of 0.91%. Despite this backdrop, Kanpur Plastipack's performance stood out, outperforming its sector by 2%.
The stock opened the day with a loss of 2.96%, hitting an intraday low of Rs. 210 before rebounding to its peak. Notably, it has consistently traded above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend over the past months. Over the past year, Kanpur Plastipack has delivered an impressive return of 117.03%, significantly outpacing the Sensex, which has gained only 8.94% during the same period. The stock's previous 52-week low was recorded at Rs. 89.89, highlighting its remarkable recovery and growth trajectory in the packaging sector.