Major hurdles out! West Coast, Star, Andhra Paper may see up to 16% gains

Paper stocks have rallied over 20 per cent in the recent past on hopes of higher demand as schools, offices reopen for normal functioning; charts indicate more upside.

Shares of paper companies have been in demand recently, with select stocks soaring over 20 per cent in the last few days amid hopes of increased demand and price hike as Covid-19 related eased and offices, schools reopened for normal activiity.

Andhra Paper and West Coast Paper Mills zoomed 27 per cent and 25 per cent, respectively, while Star Paper Mills and JK Paper gained 22 per cent, each. Orient Paper & Industries Limited moved up 17 per cent.

Here's the future outlook for paper stocks amid the current rally:-

Andhra Paper Limited (ANDHRAPAP)
Likely target: Rs 301-