JK Paper rises on commencing commercial production at New Packaging Board Plant
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JK Paper is currently trading at Rs. 224.00, up by 2.25 points or 1.01% from its previous closing of Rs. 221.75 on the BSE.
The scrip opened at Rs. 224.60 and has touched a high and low of Rs. 225.30 and Rs. 222.45 respectively. So far 21789 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 284.80 on 09-Aug-2021 and a 52 week low of Rs. 117.00 on 28-Jan-2021.
Last one week high and low of the scrip stood at Rs. 232.10 and Rs. 209.00 respectively. The current market cap of the company is Rs. 3756.50 crore.
The promoters holding in the company stood at 49.52%, while Institutions and Non-Institutions held 6.41% and 44.07% respectively.
JK Paper has commenced commercial production of its New Packaging Board line at Unit - CPM, Gujarat. Its new line will add 1,70,000 TPA capacity of Virgin Fibre Board taking Company's total capacity of Packaging Board to 3,00,000 TPA, making it amongst the top two manufacturers in the country. The company's consolidated Paper and Board capacity will reach to 7.61.000 TPA including the capacity of its subsidiary, Sirpur Paper Mills.
The Plant will enable the Company to produce world class Valued Added Products and offer Sustainable and eco-friendly Packaging Solutions covering various sectors like Pharmaceuticals, Food products and services, Apparels, FMCG, Personal products etc. This investment will cater to the increasing demand for Virgin Packaging Board which is growing at 10-12%.
JK Paper is one of the most respected paper companies in India today.
