Shares of West Coast Paper up over 3% on firm outlook, JK Paper up 34%
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Shares of West Coast Paper rose sharply on Tuesday riding on a positive outlook for the paper industry.
"Paper stocks have seen good accumulation this week as almost all players have raised prices and traditionally the fourth quarter is always the best quarter more so this time around in view of the opening up Theme gaining momentum," said S. Ranganathan, Head of Research at LKP Securities.
Despite the absence of boards in its offerings, West Coast Paper has large capacities and is a formidable player with a positive outlook going forward, Ranganathan said.
At 2.23 p.m., the company's shares traded 3.6 per cent higher at Rs 284.60.
Another paper company JK Paper's shares rose 34 per cent since the start of 2022. However, at the time of writing this report, it was marginally down at Rs 276.
