International Paper surges 6%

The company said in a notice to exchanges that its promoters to sell 20% stake to parent for restructuring.

Jun 15, 2016 10:06 IST India Infoline News Service

News Newspaper Text
 International Paper APPM Ltd jumped 6% to Rs.303 after the company said in a notice to exchanges that its promoters to sell 20% stake to parent for restructuring.

The scrip opened at Rs. 287.5 and touched a high and low of Rs. 317.1 and Rs. 287.5 respectively. A total of 380995(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1136.03 crore.
The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 391.7 on 05-Aug-2015 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. 290.1 and Rs. 282.95 respectively.
The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 3.79 % and 21.21 % respectively.
The stock traded above its 50 DMA.

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