JK Paper scales record high after stellar Q2 result

JK Paper rose 4.18% to Rs 89.80 at 13:41 IST on BSE after net profit surged 144.9% to Rs 43.96 crore on 14.35% rise in net sales to Rs 673.23 crore in Q2 September 2016 over Q2 September 2015.

The Q2 result was announced after trading hours yesterday, 27 October 2016.

Meanwhile, the S&P BSE Sensex was up 4.17 points or 0.01% at 27,920.07

On BSE, so far 4.26 lakh shares were traded in the counter as against average daily volume of 1.86 lakh shares in past one quarter. The stock hit a high of Rs 92.80 in intraday trade so far, which is also record high for the counter. The stock hit a low of Rs 88.80 so far during the day. The stock had hit a 52-week low of Rs 40.30 on 29 February 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, rising 30.02% compared with 1.33% decline in the Sensex. The scrip also outperformed the market in past one quarter, surging 51.63% as against Sensex's 0.48% decline.

The small-cap company has equity capital of Rs 148.53 crore. Face value per share is Rs 10.

JK Paper is India's leading branded paper company and the largest producer of photocopier paper.

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