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

The stock surged 17% to Rs 200 in intra-day trade, extending its Friday's rally on BSE.

Star Paper Mills surged 17% to Rs 200 in intra-day trade, extending its Friday’s rally on the National Stock Exchange (NSE) on the back of heavy volumes. In the past two trading sessions, the stock zoomed 40% from Rs 143 on March 24, 2017.

At 11:45 am; the stock was up 15% at Rs 197 as compared to 0.66% decline in the Nifty 50 index. The trading volumes on the counter jumped more than five-fold. A combined 2.77 million shares representing 17.74% of total equity of Star Paper Mills changed hands on BSE and NSE.

In last week, between March 20 and March 23, Punjab National Bank, the state-owned bank, had sold 6.8 million or 4.36% shares of Star Paper Mills through open market transaction on NSE, the exchange data shows. CLICK HERE FOR FULL DETAILS

On March 23, Anil Kumar Goel had purchased 113,440 shares of the company at price of Rs 135.22 per share, the bulk deal data shows. The name of the other buyers not immediately ascertained.

Anil Kumar Goel held more than 1% stakes each in Tamil Nadu Newsprint, TCPL Packaging, RSMW, Dwarikesh Sugar Industries, Dhampur Sugar Mills and Vardhman Holdings, the shareholding pattern data shows.