JK Paper gains on getting nod to acquire majority stake in Borkar Packaging
JK Paper is currently trading at Rs. 360.85, up by 6.85 points or 1.94% from its previous closing of Rs. 354.00 on the BSE.
The scrip opened at Rs. 345.25 and has touched a high and low of Rs. 364.60 and Rs. 345.25 respectively. So far 9069 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 529.85 on 29-Jul-2024 and a 52 week low of Rs. 276.00 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 393.00 and Rs. 345.25 respectively. The current market cap of the company is Rs. 6073.92 crore.
The promoters holding in the company stood at 49.63%, while Institutions and Non-Institutions held 16.84% and 33.52% respectively.
JK Paper (JKPL) has received approval from board of directors for acquisition of a majority stake in Borkar Packaging (BPPL). BPPL is engaged in the business of manufacturing Packaging products like Folding Cartons, Corrugated Boxes and Labels with seven plants across the country with revenue of Rs 393.20 crore in FY 2023-24.
With this acquisition, JKPL will further strengthen its top leadership position in the Corrugated Packaging segment and emerge amongst the top three players in the Folding Cartons space.
JK Paper is the leading player in Office papers, Coated papers and Packaging boards.
