West Coast Paper Mills partially begins production; stock surges 3.5%

The company partially started production at Paper and Duplex Soard Division, Dandeli with a strict adherence to the conditions, guidelines/instructions of Ministry of Health & Family Welfare Govt. of India and Department of Health & Family Welfare, Govt. of Karnataka with regard to the preventive measures taken for combating COVID -19.

Apr 08, 2020 09:04 IST India Infoline News Service

West Coast Paper Mills on Wednesday partially started production at Paper and Duplex Soard Division, Dandeli with a bare minimal strength of staff, labour with strict adherence to the conditions, guidelines/instructions of Ministry of Health & Family Welfare Govt. of India and Department of Health & Family Welfare, Govt. of Karnataka with regard to the preventive measures taken for combating COVID -19.

The stock is currently trading at Rs141.50, up by Rs4.95 or 3.63% from its previous closing of Rs136.55 on the BSE.

“With reference to our letter dated March 30, 2020, we would like to inform you that, vide Circular dated April 03, 2020 issued by Principal Secretary, Department of Commerce and Industries Govt. of Karnataka, notified the Pulp and Paper Industry as "Continuous Process Industrial Units" and exempted from existing lockdown,” the company said.

The scrip opened at Rs141 and has touched a high and low of Rs143.35 and Rs137.35 respectively.

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