Thursday 29 August 2013

JK Paper soars on hiking product prices by up to 5%

JK Paper is currently trading at Rs. 25.25, up by 1.20 points or 4.99% from its previous closing of Rs. 24.05 on the BSE.

The scrip opened at Rs. 25.20 and has touched a high and low of Rs. 25.90 and Rs. 25.20 respectively. So far 1,653 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 46.80 on 19-Dec-2012 and a 52 week low of Rs. 23.10 on 22-Aug-2013.

Last one week high and low of the scrip stood at Rs. 25.90 and Rs. 23.10 respectively. The current market cap of the company is Rs. 350.00 crore.

The promoters holding in the company stood at 51.92% while Institutions and Non-Institutions held 10.96% and 37.13% respectively.

JK Paper, a paper and packaging major, has hiked prices of its products by up to 5% with immediate effect. The company has taken this step in order to offset the cost of raw materials and chemicals which are on rise.

Three categories of products, including copier papers and packaging board, have been affected by the price hike and the increase will range from by Rs 2 to Rs 4 per kg. The company had earlier increased its prices in May this year.

JK Paper is India’s largest producer of branded paper and is a leading player in the printing and writing segment. It is also engaged in outsourcing activity wherein it contracts the capacities of other mills in India and abroad to manufacture various grades of paper, maintaining the same quality and service assurance.

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