UFlex partners with IIT Delhi to develop PPE Coverall; stock surges 17%

Topics Uflex | Buzzing stocks | Markets

Uflex is the country's largest multinational flexible packaging company
Shares of UFlex surged 17 per cent to Rs 203 in the early morning deals on the BSE on Thursday after the company announced that it has developed a Personal Protective Equipment (PPE) Coverall 'Flex Protect' in joint collaboration with lIT-Delhi and INMAS, DRDO, Delhi.

"Flex protect, that comes with four-layered protection and has 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. The PPE Coverall developed by UFlex and lIT-Delhi has been tested well for being anti-microbial," it said in an exchange filing. READ HERE

Uflex is the country's largest multinational flexible packaging company and a global player in polymer sciences.

The management said that amid the rising cases of coronavirus and scarcity of PPE Coverall, UFlex and IIT-Delhi recognised the opportunity towards playing a vital part in 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.

At 09:44 am, the stock was trading 11 per cent higher at Rs 193 on the BSE, as compared to a 1 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than five-fold with a combined 1.2 million shares changing hands on the NSE and BSE till the time of writing of this report.

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