Star Paper Mills, Indian paper mill major, reported a sumptuous growth of over 400% in a period of one year with the stock rallying on the bourses on Monday during the intraday trade.
The stock was up by 10% on the BSE on June 12 2017. While a top official of the company in an interaction with a national business daily assured that the company is likely to perform better during the year, or it will at least maintain the previous year’s stride.
The company is also expected to initiate a CapEx programme soon, in addition to a marginal hike in its production quantities.
The stock closed at Rs 212.80, up by 7.42% or Rs 14.70 on the BSE on June 12.
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Star Paper Mills Ltd ended at Rs 212.8, up by Rs 14.7 or 7.42% from its previous closing of Rs 198.1 on the BSE.
The scrip opened at Rs 198.5 and touched a high and low of Rs 226.8 and Rs 198 respectively. A total of 1368345(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 309.23 crore.
The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 220 on 26-May-2017 and a 52 week low of Rs 40.3 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 201.5 and Rs 193.35 respectively.
The promoters holding in the company stood at 46.49 % while Institutions and Non-Institutions held 1.13 % and 52.38 % respectively.
The stock traded above its 50 DMA.