MUMBAI: Paper firms on Wednesday surged by up to 20 % on BSE , spurred by investors activity in the wake of buyout deals between US-based International Paper and Andhra Pradesh Paper Mills. Andhra Pradesh Paper Mills led the gains among paper mills, surging by the 20 % to touch its upper limit to Rs 236.15 on BSE.
Paper firms' stocks zoom 20% after US co's buy of AP Mills - Times of India
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JK Paper was up by 19.96 % to Rs 57.70 and West Coast Paper Mills closed 17.11 % higher at Rs 90 a piece. Ballarpur Industries accelerated by 16.38 % to Rs 37.65 and Tamil Nadu Newsprint & Papers jumped 9.44 % at Rs 133.95 on BSE.See information about elastic tape and related products.
JK Paper was up by 19.96 % to Rs 57.70 and West Coast Paper Mills closed 17.11 % higher at Rs 90 a piece. Ballarpur Industries accelerated by 16.38 % to Rs 37.65 and Tamil Nadu Newsprint & Papers jumped 9.44 % at Rs 133.95 on BSE. "The surge in paper stocks are mainly attributed to sentimental buying in the wake of acquisition of AP Paper Mills by US-based International Paper," Religare Securities Executive Vice President and Head of Retail Research Rajesh Jain said.Find elastic tapes and related product listing.
Paper firms' stocks zoom 20% after US co's buy of AP Mills - Times of India
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