Gujarat Industrial Development Corporation (GIDC) has allotted around 4,00,387 sq metres of land to Emami Paper Mills Ltd
at Sayakha Industrial Estate in Bharuch.
The land has been allotted for manufacturing paper boards as part of a greenfield expansion project, the company said in a filing.
Emami Paper Mills' share closed at Rs192, down Rs1.65, or 0.85%, from its previous close of Rs193.65 on the BSE on Thursday.
The scrip opened at Rs190.50 and touched a high and low of Rs195 and Rs189.60, respectively. 7,631 (NSE+BSE) shares were traded on the counter.
The current market cap of the company is Rs1,158.88cr.
The stock is currently trading below its 50 DMA.