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Emami Paper Mills and Star Paper Mills surged 7% each, and the latter also scaled a 52-week high of Rs 245.20. Ruchira Papers, Pudumjee Paper, Satia Industries, Seshasayee Papers, Genus Paper, and West Coast Paper Mills climbed 4-6%.
Most listed stocks in the segment such as West Coast Paper, Andhra Paper, JK Paper, Seshasayee Paper and Boards, Orient Paper and Pudumjee Paper — all have posted multibagger returns in the last three years. What next for Indias paper producers? Will the stocks rally continue?
The paper industry’s fortunes are linked to a number of economic indicators, such as literacy rates, spending on education, and sales of fast-moving consumer goods. Most of such indicators show positive momentum and have boosted paper stocks.
Paper consumption in India will likely reach 30 million tonnes by March 2027. There is growing demand from sectors such as FMCG and retail for innovative packaging solutions.
Paper stocks gained on Wednesday with several counters moving up.