This mid-cap stock rises up to 12% despite stock market crash: Do you own it?

Stock Market today: The mid-cap stock Century Plyboards (India) Ltd gained up to 12% during the intraday trades on Friday despite market crash

Century Plyboards (India) share price movement

The Century Plyboards (India) share price opened at ₹754.55 on the BSE on Friday, slightly higher than the previous close of ₹746.90. The Century Plyboards (India) share price thereafter rose to intraday highs of ₹837.15 which translated into gains of more than 12%

The Century Plyboards (India) though had corrected significantly from 1 year or 52 week high of ₹938.60 seen in October 2024 following pressure on the broader markets and significant correction in the benchmark indices too, however is rebounding well now. Century Plyboards (India) share price

Century Plyboards (India) key developments

The Century Plyboards (India) intimated the exchanges regarding incorporation of a Wholly Owned Subsidiary Company on 20 February 2025 post market hours.

The Century Plyboards (India) said that the Company has incorporated a wholly owned Subsidiary by the name “Centuryply Furniture Fittings Limited” at Kolkata on 18th February, 2025 for the purpose of manufacturing fitting and fixtures for furniture.

Although formal Certificate of Incorporation is yet to be received from Ministry of Corporate Affairs (MCA), said the company, the disclosure nevertheless is made on the basis of the Company Master Data of Centuryply Furniture Fittings Limited uploaded by MCA on its web portal, said Century Plyboards in its release.

CFFL is incorporated as a wholly owned subsidiary of the Company (100%) with an initial subscription of 50,000 equity shares of Rs.10/- each

Giving details of size and other investments, it said that Centuryply Furniture Fittings Limited (CFFL) has been incorporated with Authorized Share Capital: Rs. 15,00,000/- (Rupees Fifteen Lakh), Paid up Share Capital: Rs. 5,00,000/- (Rupees Five Lakh only) as Initial subscription.

The company also said that the initial subscription amount mentioned above does not fall within the ambit of related party transaction. The promoter/ promoter group of the Company have no personal interest in CFFL.

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