Yash Papers has entered into MOU with UP state government, rises 6%

The company plans to double its capacity of Tableware Unit.

Feb 23, 2018 12:02 IST India Infoline News Service

Yash Papers Ltd has entered into MOU with UP state government for Rs73.44cr for expansion of its Paper Unit III and Tableware Unit capacity. The company plans to increase its installed capacity to 100MT from existing 70MT of Paper Unit III. For Tableware unit, it plans to double its capacity to 23MT.

Yash Papers Ltd, participated in Investor Summit on February 21, 2018 and February 22, 2018 organised by UP state government. The company has showcased CHUK tableware range. “CHUK is our new range of products and we are looking forward for new business opportunities for us, while focusing on our ethics of sustainability”, Ved Krishna, Head of Strategy, Yash Papers said, as per the media reports. CHUK tableware range is a compostable tableware range. It is made out of sugarcane waste which is safe for environment.

Yash Papers Ltd is currently trading at Rs74.60 up by Rs4.3 or 6.12% from its previous closing of Rs70.30 on the BSE. The scrip opened at Rs72 and has touched a high and low of Rs77.50 and Rs72 respectively. The stock is currently trading above its 50 DMA.

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