Meanwhile, the BSE Sensex was up 71.31 points, or 0.27%, to 26,765.59.

On the BSE, 83,993 shares were traded in the counter so far as against an average daily volume of 1.66 lakh shares in the past one quarter. The stock had hit a high of Rs 103 and hit a low of Rs 100 so far during the day. The stock had hit a 52-week high of Rs 107.80 on 21 September 2016. The stock had hit a 52-week low of Rs 42 on 12 February 2016.

The stock had outperformed the market over the past 30 days till 8 December 2016, rising 4.81% compared with 3.25% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 14.71% as against Sensex's 8.09% decline.

The small-cap polymer products maker has an equity capital of Rs 21.01 crore. Face value per share is Re 1.

Time Technoplast announced that the meeting of the board of directors of the company will be held on 13 December 2016 to consider alternate means of fund raising including but not limiting to preferential issue of securities.

The company's shareholders on the Annual General Meeting on 28 September 2016 has passed special resolution authorising board of directors to issue, offer and allot equity shares/fully convertible debentures/partly convertible debentures/non convertible debentures etc. to the qualified institutional buyers if required at an appropriate time.

On a consolidated basis, Time Technoplast's net profit rose 18.7% to Rs 35.61 crore on 6.9% increase in net sales to Rs 653.61 crore in Q2 September 2016 over Q2 September 2015.

Time Technoplast is a leading manufacturer of polymer products. The company's portfolio consists of technically driven innovative products catering to growing industry segments like, industrial packaging solutions, lifestyle products, automotive components, healthcare products, infrastructure/construction related products, material handling solutions & composite cylinders.