Andhra Paper climbs on getting consent to operate for additional pulp capacity
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Andhra Paper is currently trading at Rs. 511.20, up by 21.50 points or 4.39% from its previous closing of Rs. 489.70 on the BSE.
The scrip opened at Rs. 499.55 and has touched a high and low of Rs. 513.40 and Rs. 499.35 respectively. So far 8961 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 675.00 on 11-Oct-2023 and a 52 week low of Rs. 392.45 on 26-Jun-2023.
Last one week high and low of the scrip stood at Rs. 513.40 and Rs. 467.40 respectively. The current market cap of the company is Rs. 2029.27 crore.
The promoters holding in the company stood at 72.31%, while Institutions and Non-Institutions held 4.93% and 22.75% respectively.
Andhra Paper has obtained the Andhra Pradesh Pollution Control Board’s (APPCB) approval (consent to operate) for additional pulp capacity of 27,500 TPA in addition to existing capacity of 2,00,000 TPA (licensed capacity) which is in line with Environment Clearance previously approved by Ministry of Environment & Forest for Climate Change (MOEF). The additional capacity will boost the PULP production and reduce dependency on imports & recycled pulp.
Andhra Paper is one of the largest integrated paper and pulp manufacturers in India.
