Stock to watch : Ruchira papers

Ruchira Papers Limited is buzzing on the bourses with gains of more than 3%. The stock touched its intraday high of Rs 142.3 per share, up by 3.2%.

Mar 03, 2017 01:03 IST India Infoline News Service

Ruchira Papers Limited is buzzing on the bourses with gains of more than 3%. The stock touched its intraday high of Rs 142.3 per share, up by 3.26%.
 
The board of directors of Ruchira Papers Limited have approved the preferential issue of 18,30,000 warrants in its meeting held on March 3, 2017. The warrants are convertible into an equivalent number of equity shares, of Rs 10 each to the Promoters & Promoter Group. The warrants will be priced as per the SEBI guidelines, in the issue of capital and disclosure requirements.
 
Other paper company stocks are trading with mixed sentiments in Friday’s trading session.
 
The major indices in the market, Nifty and Sensex, are trading lower by 32 and 95 points, respectively. Besides, broader market indices are also showing weakness on Friday. 
 
Stock View:
 
Ruchira Papers Ltd is currently trading at Rs 139.05, up by Rs 1.25 or 0.91% from its previous closing of Rs 137.8 on the BSE.
 
The scrip opened at Rs 137.35 and has touched a high and low of Rs 142.5 and Rs 137.35 respectively. So far 136176(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 308.95 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 145 on 02-Mar-2017 and a 52 week low of Rs 55 on 02-Mar-2016. Last one week high and low of the scrip stood at Rs 145 and Rs 134.6 respectively.
 
The promoters holding in the company stood at 61.07 % while Institutions and Non-Institutions held 0.83 % and 38.1 % respectively.
 
The stock is currently trading above its 50 DMA.

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