Paper stocks up on better financials

Star Paper Mills, Ruchira Papers, Balkrishna Paper, TN Newsprint, N R Agarwal Industries, Seshasayee Paper and West Coast Paper were up in the range of 6% to 20% on the BSE

Shares of paper manufacturers saw sharp gain on Monday, on expectation of robust growth demand. 

That of Tamil Nadu Newsprint & Papers rose the highest at 8.8 per cent, to close at Rs 419.8. Emami Paper Mills rose 8.1 per cent to Rs 898.1. West Coast Paper Mills and JK Paper rose six and 5.2 per cent, respectively.

Experts estimate 12 per cent and four to five per cent growth in demand for packaging and writing & printing paper, respectively, next year. Writing & printing paper continues to face margin pressure in cheaper shipments from Southeast Asia.

“Paper mills in India have reduced