Astron Paper at 10% UC

about 2 months ago
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Astron Paper, which had closed yesterday at Rs.27.35, opened today morning at Rs.29.30 and soon hit the 10% UC of the day at Rs.30.95. This is the third consecutive day it has hit the UC. Volumes rose over 2 times.

The stock price has reacted positively to the news that it has recommencement of partial production at its Bhuj factory – Unit-2 has received the Govt of Gujarat permission to start production while Unit-1 remains shut.

Its wholly owned subsidiary, Balaram Papers also received permission to commence operation.

Thus partial production has begun with a bare minimum strength of men power and with conditions / directions / guideline issued by Ministry of Health and Family Welfare Govt of India and by Government of Gujarat with respect to preventive measures taken for this COVID-19.

Company’s product kraft paper is used in manufacturing of corrugated boxes for industries like FMCG, Pharma, Food oil, etc as means of packaging solution.

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