Wim Plast announced that the company has purchased around one acre of leasehold land at Sipcot Industrial Complex, Gummidipoondi, Tamilnadu for further expansions.

"The commercial production of the new manufacturing unit is expected by the end of the second quarter of this financial year," it said.

Shares of the company gained Rs 11.2, or 1.83%, to settle at Rs 623.60. The total volume of shares traded was 12,831 at the BSE (Tuesday).