This multibagger hits upper circuit as company eyes e-commerce entry, more product launches

New Delhi: Shares of hit an upper circuit on Monday after the company board approved to enter e-commerce space and expand product line

In an exchange filing, the company said, "The board has considered and approved entering into e-commerce space for increasing revenue and developing its brand from stationary and ancillary products."

The company board also approved increasing the product range which are used in various institutions including schools, colleges, offices, corporates, government departments and others.

The company is likely to explore all the possible modes like developing a website, selling on other e-platforms, opening stores for speedy delivery and off-line marketing and distribution channels, the exchange filing added.

Following the development, the NSE-listed Kshitij Polyline jumped 5 per cent, locked in buyers circuit, to Rs 87.40 on Tuesday. The scrip had settled at Rs 83.25 on Monday, after rising another 5 per cent.

The company said that it intends to take advantage of technology and e-platforms to increase its revenue. It is also looking at expansion of the product range.

Shares of Kshitij Polyline have zoomed as much as 160 per cent in the last six months, whereas the scrip is up by 55 per cent in the last one month itself.

The company manufactures, distributes, supplies, and exports a wide array of identity card products, binding and lamination equipment, and other stationery products.