Paper stocks in demand; JK Paper, Seshasayee Paper surge up to 14%

Paper stocks rallied on expectation of strong earnings supported by robust growth in the packaging board segment and continued demand in the writing and printing paper segment.

Shares of paper companies were in demand as most of the frontline stocks traded higher in an otherwise weak market. The surge comes after strong demand in paper segment and growth in packaging board segment brightened earnings growth outlook.

Shares of Seshasayee Paper & Board rallied 14 per cent to Rs 230.65 after registering a jump of over three-fold in trading volumes. Meanwhile, shares of JK Paper hit a new high of Rs 387.40 as it surged 12 per cent on the BSE.

Among the paper pack, shares of Tamil Nadu Newsprint & Papers, Andhra Paper, West Coast