Big boost to ready-to-eat and packaging industry! Govt allows use of recycled plastic bags for packaging products—keep an eye on these stocks

There is big news for the packaging industry that will trigger good action in shares related to these companies. The central government has issued a notification regarding the use of recycled plastic bags in the packaging industry, informed Zee Business Managing Editor Anil Singhvi on Thursday.  

The Ministry of Environment, Forest, and Climate Change has issued a notification. The ready-to-eat and packaging industry will be now allowed to use some packaging products, Singhvi said. 

He further said that now recycled plastic bags can be used for packaging products. This decision will impact the whole industry. The Ministry has notified that recycled plastic bags can be used for packaging products. 

Singhvi said that this is good news for Polyplex Corp, Cosmo Films companies. These companies basically manufacture packaging materials.    

This decision will directly impact the ready-to-eat and packaging industry. The raw material cost for packaging is likely to get reduced for these companies, he added.

#BIGBREAKING - रेडी टू ईट और पैकेजिंग इंडस्ट्री के लिए अच्छी खबर, रीसाइकल किए प्लास्टिक बैग का इस्तेमाल पैकिंग
में किया जा सकता है - पर्यावरण, वन एवं जलवायु परिवर्तन मंत्रालय ने किया नोटिफिकेशन जारी @AnilSinghvi_ pic.twitter.com/3y5FLOHmBp

— Zee Business (@ZeeBusiness) September 23, 2021

Singhvi advised holding Polyplex Corp shares for now. Target is expected Rs 2,500. Polyplex Corp and Cosmo Films stocks are trading high today with 1.19 per cent and 1.35 per cent increase, respectively.

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(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)