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Doubling capacity! Emami Paper Mills stock zooms 14%

The company is planning to invest an additional Rs. 1,000 crore in the next three years to double the capacity at its Balasore, Odisha plant.

November 30, 2015 10:35 IST | India Infoline News Service
Emami Paper Mills was trading higher by 14% at Rs. 51. A report states that the company is planning to invest an additional Rs. 1,000 crore in the next three years to double the capacity at its Balasore, Odisha plant.
The company has set up 1.32 lakh tonne high-end paper boards manufacturing facility at Rs. 1,000 crore at Balasore.The company produces 1.5 lakh tonnes of newsprint and 15,000 tonnes of writing & printing paper annually.
The scrip opened at Rs. 48 and has touched a high and low of Rs. 54 and Rs. 48 respectively. So far 3903(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 273.46 crore.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 54.25 on 04-Aug-2015 and a 52 week low of Rs. 33 on 02-Jul-2015. Last one week high and low of the scrip stood at Rs. 49 and Rs. 43.3 respectively.
The promoters holding in the company stood at 74.97 % while Institutions and Non-Institutions held 0 % and 25.03 % respectively.
The stock is currently trading below its 100 DMA.

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