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Paper stocks hit record high; Star Paper Mills zooms 20%

Star Paper Mills, Ruchira Papers, Balkrishna Paper, TN Newsprint, N R Agarwal Industries, Seshasayee Paper and West Coast Paper were up in the range of 6% to 20% on the BSE.

SI Reporter  |  Mumbai 


Shares of paper companies were on a roll with most of these stocks trading at their respective all-time highs on the back of heavy volumes. Star Paper Mills, Ruchira Papers, Balkrishna Paper, Tamil Nadu (TN) Newsprint, N R Agarwal Industries, and were up in the range of 6% to 20% on the BSE. JK Paper, Ruchira Papers, Seshasayee Paper, TN Newsprint, and were among 11 stocks from the paper industry, which hit their respective record highs. was locked in upper circuit of 20% at Rs 281, extending its Friday’s 12% rally on the BSE. The trading volumes on the counter jumped more than nine-fold with a combined 3.03 million shares changed hands on the BSE and NSE. There were pending buy orders 102,876 shares on both the exchanges at 03:04 PM. Earlier this year, a few media reports claimed that China had banned making paper from waste pulp. The move would benefit Indian paper companies. Total 46 paper companies thus far announced their Q2 (July-September) quarter results, have posted an aggregate net loss of Rs 270 crore against loss of Rs 437 crore in the same quarter year ago. which hit a new high of Rs 204, up 17% on the BSE in intra-day trade. The company had reported net Profit of Rs 8.39 crore for Q2FY18, up by 11.87%, as compared to Rs 7.50 crore in the corresponding quarter of last fiscal.

The company’s EBITDA margin improved from 15.18% in Q2FY17 to 15.43% in Q2FY18. Meanwhile, Astron Paper and Board Mill which is engaged in manufacturing of kraft paper, is launching its initial public offering. The issue opens on December 15, 2017 and closes on December 20, 2017, with a price band of Rs 45 to Rs 50 per equity share of face value of Rs 10 each. The company proposes to utilize the net proceeds towards setting up of additional facility for manufacturing of Kraft Paper with lower GSM ranging from 80 to 180 GSM and lower B. F ranging from 12 B. F to 20 B. F., part repayment of unsecured loan, funding the working capital requirements of the company and general corporate purposes.

EMAMI PAPER 193.95 197.85 188.00 28-Nov-17
GANGA PAPERS 41.25 41.25 41.25 22-Nov-17
GENUS PAPER & BO 12.47 12.47 12.35 01-Nov-17
JK PAPER 135.25 140.05 130.75 08-Dec-17
N R AGARWAL INDS 480.00 495.90 453.35 08-Dec-17
RUCHIRA PAPERS 195.70 204.00 189.50 11-Oct-17
SESHASAYEE PAPER 907.35 948.50 880.00 06-Feb-17
STAR PAPER MILLS 280.85 280.85 239.00 07-Nov-17
T N NEWSPRINT 417.55 439.10 398.00 28-Nov-17
VICTORY PAPER 39.75 39.75 39.75 08-Dec-17
WEST COAST PAPER 301.50 315.85 290.55 08-Dec-17

First Published: Mon, December 11 2017. 15:17 IST