Paper stocks soar; Nath Pulp rallies 9%

When almost all broad market indices are in green and investors are in a mood to cheer as they are buying in the market throughout the day. Amidst this bright day, 9 paper stocks are buzzing on the Street, and have clocked more than 5% gains today.

Nath Pulp is up by 8.9 %, trading at 30.6; Yash Papers is up by about 7.84 %, trading at 22; West Coast Paper is trading at Rs. 147.80 per share, up by 7.73 %; Pudumjee Paper is up by 7.66 %, trading at Rs 22.5 per share; Seshasayee Paper is trading at Rs 766 per share, up by 7.28 % ; and Star Paper is up by 6.63 %, trading at Rs 191.5 per share. International Paper APPM also has risen about 5.92 %, at Rs 338 per share; JK Paper has soared to 96, rising about 5.84%; whereas, Saffron Industries is also up about 5 %, trading in upper circuit during the first half on Wednesday.

Already, it has been a green day from the beginning, for the broader markets with Metal stocks shining the most ,followed by Capital Goods.

The bottom line is, the market is inching up steadily, thereby building up gains in the first half of the session on Wednesday. If this continues, 8500 seems achievable sooner for the benchmark index Nifty, as it climbs steadily above 8400.

Stock view :-

International Paper APPM Ltd is currently trading at Rs 336.75, up by Rs 16.45 or 5.14% from its previous closing of Rs 320.3 on the BSE.

The scrip opened at Rs 326 and has touched a high and low of Rs 344.7 and Rs 320.5 respectively. So far 296885(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1273.83 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 349 on 07-Oct-2016 and a 52 week low of Rs 216.05 on 20-Jan-2016. Last one week high and low of the scrip stood at Rs 325 and Rs 307 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 3.19 % and 21.81 % respectively.

The stock is currently trading above its 50 DMA.