Star Paper Mills rallies 40% in two days on heavy volumes

Star Paper Mills extended its Friday’s rally on Monday on the back of heavy volumes. The stock has zoomed over 40% from Rs 143 on March 24, 2017. The stock on Monday’s intraday basis surged 17% to Rs 200 and it witnessed a huge spurt in volumes by more than 70.7 times.

Mar 27, 2017 11:03 IST India Infoline News Service

Star Paper Mills extended its Friday’s rally on Monday on the back of heavy volumes. The stock has zoomed over 40% from Rs 143 on March 24, 2017. The stock on Monday’s intraday basis surged 17% to Rs 200 and it witnessed a huge spurt in volumes by more than 70.7 times.
 
In the previous week, the state-owned bank, Punjab National Bank sold the company's 6.8 million or 4.36% shares via an open market transaction on the NSE, according to data revealed by the exchanges.
 
As per the bulk deal data, Anil Kumar Goel has purchased 113,440 shares at a price of Rs 135.22 per share of the company. The shareholding patterns show that Anil Kumar Goel held more than 1% stakes each in TCPL Packaging, Dwarikesh Sugar Industries, Dhampur Sugar Mills, RSMW Tamil Nadu Newsprint and Vardhman Holdings.

Stock view:-
 
Star Paper Mills Ltd ended at Rs 187, up by Rs 16 or 9.36% from its previous closing of Rs 171 on the BSE.
 
The scrip opened at Rs 176 and touched a high and low of Rs 200.2 and Rs 176 respectively. A total of 3789054(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 266.93 crore.
 
The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 215.8 on 07-Feb-2017 and a 52 week low of Rs 32.2 on 31-Mar-2016. Last one week high and low of the scrip stood at Rs 171 and Rs 134.7 respectively.
 
The promoters holding in the company stood at 53.06 % while Institutions and Non-Institutions held 1.32 % and 45.62 % respectively.
 
The stock traded above its 50 DMA.

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