West Coast Paper Mills rises as its division doubles optical fibre cable capacity
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West Coast Paper Mills is currently trading at Rs. 630.85, up by 8.20 points or 1.32 % from its previous closing of Rs. 622.65 on the BSE.
The scrip opened at Rs. 628.30 and has touched a high and low of Rs. 668.80 and Rs. 623.55 respectively. So far 24053 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 815.00 on 30-Jan-2024 and a 52 week low of Rs. 465.30 on 27-Jul-2023.
Last one week high and low of the scrip stood at Rs. 708.50 and Rs. 618.15 respectively. The current market cap of the company is Rs. 4164.38 crore.
The promoters holding in the company stood at 56.53%, while Institutions and Non-Institutions held 14.60% and 28.87% respectively.
West Coast Paper Mills’ division -- West Coast Optilinks (WCO) has successfully doubled its manufacturing capacity for Optical Fiber Cable by setting up a new manufacturing unit at Fab City, Hyderabad, Telangana. The newly commissioned plant has started its commercial production on February 14. While the initially projected timeline for the plant's commissioning was set for April 01, 2024, the Company has successfully reached this milestone well before the original schedule. This development aligns with the Company's commitment to meeting the rising demand driven by global 5G rollouts and is in line with the objectives of Atmanirbhar Bharat and the Digital India initiative.
The Company is presently manufacturing a diverse range of Optical Fiber Cables at its facility in Mysore to meet the demands of the global telecom and utilities sectors. Besides being a prominent player in the Indian market, the company exports its Optical Fiber Cables to Europe and the MEA region. The manufacturing unit in Fab City, Hyderabad, Telangana, will be the second unit after Mysore. The infrastructure at this site is designed to support quick expansions, enabling further and quick doubling of capacity in Hyderabad.
The company is also currently working on establishing its own Optical Fiber Draw Towers factory at the Fab City site in Hyderabad, Telangana. This facility will cater to the Optical Fiber needs of both Cable units. Construction activities are progressing as scheduled, and the company is optimistic about starting commercial production ahead of the target date.
West Coast Paper Mills (WCPM) is one of the oldest and the largest producers of paper for printing, writing, and packaging in India.
