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The board of Pankaj Polymers on Monday advised its Managing Director to work out modernisation of plant and machinery by replacing the existing machinery, analyse induction of new products and expansion to new market/customers. The board took the decision after it reviewed the company's operations of HDPE/PP woven sacks segment/division and noted that the division is incurring losses due to fluctuation of raw material prices, stiff competition, change in technology and insolence of existing plant. Shares of Pankaj Polymers last traded on the BSE on February 23 and closed at ₹14.25.
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