Ruchira Papers crawls over 3%: recommends final dividend

Paper industry player Ruchira Papers surged over 3% on Monday’s intraday session on BSE.

May 22, 2017 02:05 IST India Infoline News Service

Paper industry player Ruchira Papers surged over 3% on Monday’s intraday session on BSE.
 
The company’s board of directors has recommended final dividend of Rs 2.25 per equity share on face value of Rs 10 per share fully paid up for FY 2016-17  
 
The stock has attracted traded volume of 2,80,210 shares and traded value of Rs 468.48 lakhs on NSE at 02:41 IST.
 
Ruchira Papers Limited is an India-based company, which is engaged in offering paper and paper products. The Company is engaged in the process of manufacturing writing and printing paper, and Kraft paper.
 
Meanwhile, BSE is trading in positive territory gaining over 101 points or 0.33% at 30565 levels followed by NIFTY gaining over 10 points or 0.11% at 9438 levels at 02:43 IST.
 
Stock view:

Ruchira Papers Ltd is currently trading at Rs 166.15, up by Rs 4.9 or 3.04% from its previous closing of Rs 161.25 on the BSE.
 
The scrip opened at Rs 164.4 and has touched a high and low of Rs 170.85 and Rs 164.4 respectively. So far 329952(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 361.52 crore.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 182.2 on 07-Apr-2017 and a 52 week low of Rs 60 on 23-May-2016. Last one week high and low of the scrip stood at Rs 173 and Rs 160.9 respectively.
 
The promoters holding in the company stood at 61.14 % while Institutions and Non-Institutions held 1.24 % and 37.62 % respectively.
 
The stock is currently trading above its 50 DMA.

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