Emami Paper Mills to expand facility in Odisha

Emami Paper Mills has received approval from Odisha Government for the proposed expansion plan to increase the company's capacity of manufacturing multi-layer coated board at Balgopalpur in Odisha. The company is going to invest approximate Rs 650 crore.
 
Emami Paper Mills is delivering almost 1.8 lakh TPA from its Packaging Unit at Balasore. After setting up multi-layer coated board plant, the company’s capacity will be doubled.
 
On good market response and growth in packaging sector, Emami Paper Mills is planning big ticket expansion in the form of similar plant at Balasore with same capacity.
 
The share price of Emami Paper Mills was trading at Rs 129 with a gain of 6.3% at 0943 hours on BSE. The stock also witnessed a spurt in volume by more than 1.69 times.

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Emami Paper Mills Ltd is currently trading at Rs 128, up by Rs 6.65 or 5.48% from its previous closing of Rs 121.35 on the BSE.

The scrip opened at Rs 127.8 and has touched a high and low of Rs 134 and Rs 127.7 respectively. So far 11544(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 734.17 crore.

The BSE group 'XC' stock of face value Rs 2 has touched a 52 week high of Rs 152.2 on 03-Nov-2016 and a 52 week low of Rs 54 on 11-Jul-2016. Last one week high and low of the scrip stood at Rs 123.95 and Rs 100.1 respectively.

The promoters holding in the company stood at 74.97 % while Institutions and Non-Institutions held 0.11 % and 24.92 % respectively.

The stock is currently trading above its 100 DMA.