Emami Paper Mills surged 8.86% to Rs 59 at 14:15 IST on BSE, with the stock extending Monday's sharp rally triggered by the media reports that the company is planning to double the capacity at its Balasore plant in Odisha in the next three years.
Meanwhile, the S&P BSE Sensex was up 27.50 points or 0.11% at 26,173.17.
On BSE, so far 53,000 shares were traded in the counter as against average daily volume of 2,865 shares in the past one quarter.
The stock hit a high of Rs 63.55 and a low of Rs 57.30 so far during the day. The stock had hit a 52-week high of Rs 54.25 on 4 August 2015. The stock had hit a 52-week low of Rs 33 on 2 July 2015.
The stock had outperformed the market over the past one month till 30 November 2015, surging 26.05% compared with Sensex's 1.92% fall. The scrip had also outperformed the market in past one quarter, jumping 12.8% as against Sensex's 0.93% fall.
The small-cap company has equity capital of Rs 12.10 crore. Face value per share is Rs 2.
Shares of Emami Paper Mills have rallied 30.53% in two trading sessions from Rs 45.20 on 27 November 2015 as recent media reports suggested that the company is planning to invest an additional Rs 1000 crore in the next three years to double the capacity at its Balasore plant in Odisha. The stock had surged by the maximum permissible level of 20% to settle at Rs 54.20 yesterday, 30 November 2015.
The small-cap company has equity capital of Rs 12.10 crore. Face value per share is Rs 2.
Emami Paper Mills' net profit declined 89.2% to Rs 0.41 crore on 2.8% growth in net sales to Rs 135.83 crore in Q2 September 2015 over Q2 September 2014.
Emami Paper Mills, a part of Emami Group, specialises in the manufacture of newsprint and writing and printing paper. The company enjoys the position of being the largest manufacturer of newsprint in India, and the only manufacturer in eastern India.
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