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Uflex share price zooms 17% as company finds shield against coronavirus

Uflex share price surged nearly 17 per cent to Rs 202.65 apiece on BSE in Thursday’s after the company in a press release said that it has developed a Personal Protective Equipment (PPE) Coverall ‘Flex Protect’ in joint collaboration with lIT-Delhi and INMAS, DRDO, Delhi. The stock has soared nearly 70 per cent from its March low of Rs 119.95 apiece. With today’s rally, the stock is still 36 per cent off from its 52-week high of Rs 276.25. “Flex Protect that comes with four-layered protection and anti-microbial coating has been approved by The Defence Research and Development Organisation (DRDO) for use by the front-line health workers who are fighting the battle against COVID-19,” Uflex said in a press release.

Around 11.15 AM, Uflex share price was trading 10 per cent higher at Rs 190.10 apiece on BSE. In comparison to a 1.70 per cent rise in S&P BSE Sensex. The stock opened at Rs 173.55 and hit a day’s low of Rs 175.15 per equity on BSE. “It is far superior to the fabric available in the market thereby giving utmost comfort and ultimate protection to the paramedical staff who are currently in great danger of contamination and discomfort,” N Siva Shankaran, Vice President- Packaging Business at UFlex, said while ensuring the protection of the health workers who are fighting against the fast-spreading novel coronavirus.

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The management said that UFlex and IIT-Delhi recognised the opportunity towards playing a vital part in the battle against Covid-19. UFlex is participating in the tender of various government requirements to supply the PPE coveralls which will be retailed via chemists and e-commerce platforms, it added.

Meanwhile, in the last 24 hours, India witnessed a sharp spike in coronavirus cases taking the total number cases in the country to 1,58,333 while the death toll has reached 4,531. The maximum number of infection cases have been reported from Maharashtra, Tamil Nadu and Gujarat.

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