Yash Papers jumps after MoU with UP government

Yash Papers rose 6.05% to Rs 74.55 at 11:55 IST on BSE after the company said it signed a memorandum of understanding with the Government of Uttar Pradesh.

The announcement was made after market hours yesterday, 22 February 2018.

Meanwhile, the S&P BSE Sensex was up 249.32 points, or 0.74% to 34,068.82.

On the BSE, 1.22 lakh shares were traded in the counter so far compared with average daily volumes of 2.45 lakh shares in the past one quarter. The stock had hit a high of Rs 77.50 and a low of Rs 72 so far during the day. The stock hit a record high of Rs 85.30 on 12 February 2018. The stock hit a 52-week low of Rs 23.10 on 2 March 2017.

The stock had outperformed the market over the past 30 days till 22 February 2018, falling 0.50% compared with 6.48% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 65.41% as against Sensex's 0.42% rise. The scrip had also outperformed the market in past one year, rising 196% as against Sensex's 17.05% rise.

The small-cap company has equity capital of Rs 35.24 crore. Face value per share is Rs 10.

The Uttar Pradesh state government organised Investor Summit on 21 and 22 February 2018. Yash Papers said its managing director, Ved Krishna, entered into a memorandum of understanding (MoU) of Rs 73.44 crore with the state government for expansion of capacity in the coming years. The company will expand capacity of its paper unit lll from 70 MT to 100 MT. It will expand capacity of its tableware unit from 11.50 MT to 23 MT.

Net profit of Yash Papers rose 218.24% to Rs 5.06 crore on 10.28% rise in net sales to Rs 50.11 crore in Q3 December 2017 over Q3 December 2016.

Yash Papers makes agri-residue pulp, moulded products and paper products.

Powered by Capital Market - Live News