JK Paper hits a new high
By
Research Desk
about 9 years ago
JK Paper has hit a new 52-week high today at Rs.46.80. Volumes are huge – compared to 2W average of 1.05 lakh shares, today alone the stock has seen volumes of over 4.5 lakh shares.
The stock hit a high as it has found the company’s Q1FY16 performance to be extremely good. As against a loss of Rs.22 crore in previous Q1, the company posted a net profit of Rs.17 crore in current Q1. Net sales rose from Rs.574 crore to Rs.683 crore.
The company has attributed this turnaround to higher sales volumes and major improvements in operating efficiencies, mainly on account of the new plant in Odisha. Given its wider product line and expanded distributor network, the company hopes to sustain this good run through the current fiscal.