Thursday 18 July 2013

Andhra Pradesh Paper surges after Nippon Investment picks 210,000 shares

Andhra Pradesh Paper Mills is currently trading at Rs. 294.00, up by 3.85 points or 1.33% from its previous closing of Rs. 290.15 on the BSE.

The scrip opened at Rs. 295.50 and has touched a high and low of Rs. 298.35 and Rs. 292.15 respectively. So far 14168 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 373.30 on 12-Sep-2012 and a 52 week low of Rs. 179.00 on 08-Mar-2013.

Last one week high and low of the scrip stood at Rs. 299.90 and Rs. 277.65 respectively. The current market cap of the company is Rs. 1173.22 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 5.42% and 19.58% respectively.

Nippon Investment and Finance Company has purchased 210,000 shares of Andhra Pradesh Paper Mills in an open market transaction. The shares were purchased at Rs 299.80 on the Bombay Stock Exchange (BSE) on July 17, 2013.

Andhra Pradesh Paper Mills manufactures paper of various grades such as writing, printing, industrial, newsprint and copier. The company has also set up a 34 MW Double Extraction Condensing type turbine to meet its power requirements. Company owns two manufacturing facilities having a cumulative production capacity of 1, 74,500 TPA.

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