Astron Paper & Board Mill rose 1.04% to Rs 38.70 after the company entered into a strategic partnership agreement with China's Shandong Zhonghui Supply Chain Management (ABC Paper).
Astron Paper in an exchange filing during market hours today, 16 December 2019, said the ABC Paper will transfer technical knowledge and experience for upgrading the company's plant. This will improve the company's operating efficiency and also assist to export in China.This agreement is executed for the period of three year up to 31 December 2022.
The stock trades below its 50 days and 200 days simple moving averages placed at 60.05 and 91.70 respectively.
Astron Paper & Board Mill is engaged in manufacturing of Kraft paper. The company makes the full range of Kraft paper ranging from GSM 80 to 350 GSM with 22 -35 BF.
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