Ok Play India Share Price Hits Upper Circuit After Expansion Completion

On January 7, 2025, shares of Ok Play India were locked at the 5% upper circuit limit of ₹16.68 per share on the Bombay Stock Exchange (BSE), following the company’s announcement about the completion of its expansion program at its Haryana manufacturing facility.

Key Highlights of the Expansion:

• Expansion Details: The company has successfully added Blow and Injection Molding Machines, along with balancing equipment and molds, as part of its expansion program.
• Increased Production Capacity: The expansion is expected to boost Ok Play India’s production capacity by more than 300%, enhancing its ability to meet growing demand for toys, playground equipment, and children’s furniture.
• Existing and New Capacity: The company’s current capacity is approximately 300 MT per annum with 80% utilization. With the expansion, the new capacity will increase to 900 MT per annum.
• Project Timeline and Cost: The expansion project, which began in July 2024, has been completed with a total investment of ₹46 crore. 75% of the cost has been financed by Indian Overseas Bank.

Stock Performance:

• Price Movement: As of 11:50 AM, Ok Play India’s stock was still locked at the 5% upper circuit at ₹16.68.
• Recent Performance: Over the past month, the stock has risen by just over 4%, and it has gained over 2% in the last six months. However, on a year-to-date (YTD) basis, the stock has been flat.
• 52-Week Range: The stock hit a 52-week high of ₹21.50 on February 23, 2024, and reached a 52-week low of ₹10.62 on November 18, 2024.

Market Impact:

The announcement has spurred optimism in the market, with the 5% upper circuit reflecting strong investor interest. The expansion in capacity is expected to strengthen Ok Play India’s competitive position in the toy and playground equipment market, potentially boosting its revenue and operational efficiencies in the future.

Disclaimer:

The views and recommendations above are those of individual analysts or broking companies, and investors should conduct their own research before making any investment decisions.