The paper industry of the country witnessed huge surge on Wednesday. By the end of the day, the sector closed up by 2.59 per cent.
Pulp is one of the major raw materials used by the paper mill. This is where it gets interesting. Paper pulp price has dropped since June 2015. At the moment it is trading at its 7 years low. The price fell from a high of 668 to 512. The recent low of 484 was made on the 2nd week of November.
On the Market Front
West Coast Paper:
The West Coast Paper Mills is one of the oldest as well as largest producers of paper for printing, writing, and packaging in the country. Established in the year 1955, soon after Independence, the paper mill is located at Dandeli in Karnataka near the banks of River Kali.
In today’s trading session, West Coast Paper share price climbed the growth ladder on the back of the rising sector. The share price surged by more than 5 per cent to settle 4.44 per cent up at Rs 140.00.
JK Paper Limited has two large integrated paper manufacturing units – JK Paper Mills, Rayagada, Odisha along with Central Pulp Mills, Songadh, Gujarat with an aggregated capacity of 4,55,000 TPA. It is the market leader in Branded Copier paper segment as well as among the top two players in Coated Paper and high-end Packaging Boards.
JK Paper share price was one of the top performers of the sector today. The share price surged more than 9 per cent today. By the end of today’s session it closed at Rs 90.75, up by 5.98 per cent.
Orient Paper Mill is a paper as well as paper crafts manufacturer in Amlai of Madhya Pradesh and Brajarajnagar of Orissa, India, which employs most of the populace of that area. It is one of the most efficient paper mills in the particular area and has been associated with paper manufacture in Africa. The mill is part of Orient Paper & Industries, which comprises the paper facility and manufactures of Portland cement and ceiling fans, and which itself is a subsidiary company of CK Birla Group.
Orient Paper share price moved as much as more than 9 per cent following the industry lead. It closed at Rs 73.40 apiece on NSE.
Tomorrow’s session will tell us if this rally will continue or it was a one day theme.
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