The stocks of paper companies have posted huge gains over the past one month following a gamut of positive developments such as a hike in paper prices on rising exports, stabilisation of raw material costs and implementation of restructuring plans by some companies.
A study on four major paper makers, Tamil Nadu Newsprint (TNPL), West Coast Paper Mills, Ballarpur Industries and Star Paper, showed that the stocks rose substantially from 25 per cent to 214 per cent, beginning June 1 to till date. Analysts tracking the industry said the rally is likely to continue for sometime.
