Star Paper Mills declines on profit booking

Star Paper Mills fell 1.79% to Rs 227.80 at 14:49 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was down 46.52 points, or 0.14% to 33,810.26.

On the BSE, 15,000 shares were traded in the counter so far compared with average daily volumes of 15,000 shares in the past two weeks. The stock had hit a high of Rs 230.20 and a low of Rs 223.40 so far during the day. The stock hit a record high of Rs 318.20 on 16 January 2018. The stock hit a 52-week low of Rs 134.70 on 23 March 2017.

Shares of Star Paper Mills surged 16.56% in four trading sessions to settle at Rs 231.95 yesterday, 13 March 2018, from its close of Rs 199 on 7 March 2018.

Net profit of Star Paper Mills declined 9.60% to Rs 12.06 crore on 11.06% rise in net sales to Rs 87.07 crore in Q3 December 2017 over Q3 December 2016.

Star Paper Mills produces a wide range of industrial, packaging and cultural papers.

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