International Paper slips after plant shut down for maintenance

International Paper APPM fell 3.40% to Rs 438.95 at 14:09 IST on BSE after the company shut its Rajahmundry plant in Andhra Pradesh from 25th to 30th March 2019 for maintenance.

The announcement was made after market hours on Friday, 22 March 2019.

Meanwhile, the S&P BSE Sensex was down 416.15 points, or 1.09% to 37,748.46.

On the BSE, 7264 shares were traded in the counter so far compared with average daily volumes of 7423 shares in the past two weeks. The stock had hit a high of Rs 451 and a low of Rs 437 so far during the day. The stock hit a 52-week high of Rs 591.15 on 11 September 2018. The stock hit a 52-week low of Rs 285 on 26 March 2018.

International Paper APPM announced that there will be outage (maintenance) from 25 March 2019 to 30 March 2019 (both days inclusive) in the manufacturing facility located in Rajahmundry, East Godavari District, Andhra Pradesh. The estimated loss of production will be around 500 tons per day.

Net profit of International Paper APPM rose 179.16% to Rs 57.87 crore on 14.59% rise in net sales to Rs 376.18 crore in Q3 December 2018 over Q3 December 2017.

International Paper APPM is an integrated paper and pulp manufacturer in India.

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