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Shares of paper & paper products companies were on a roll, surging up to 15 per cent on the BSE in Wednesday’s intraday trade, in an otherwise subdued market. The spurt scross the pack comes after the management of Tamil Nadu Newsprint and Papers (TNPL) said that with greater focus on ‘Make in India’, exports of paper and converted paper products would be robust in future.
In comparison, the S&P BSE Sensex was down 0.20 per cent at 65,646 at 02:40 pm.
Shares of TNPL hit a 52-week high of Rs 284.20, surging 8 per cent on the BSE. In thw past one month, the stock has soared 34 per cent.
“A strong and robust domestic demand, coupled with strategic exports of both paper and converted paper products, augers well for the Indian paper industry. The company is well positioned to take full advantage of this bright future outlook,” TNPL said in its FY23 annual report.
Besides TNPL, Andhra Paper (up 15 per cent to Rs 543.95), West Coast Paper (up 14 per cent to Rs 744.20), Seshasayee Paper & Boards (up 14 per cent at Rs 369.05), Orient Paper & Industries (up 15 per cent at Rs 57.95), and Star Paper Mills (9 per cent at Rs 234) hit their respective 52-week highs today. JK Paper, Emami Paper Mills, and Shree Rama Newsprint, meanwhile, gained in the range of 5 per cent to 8 per cent.
The Indian paper and paperboard packaging market was pegged at $ 10.77 billion (Rs 88,314 crore) in 2022, and is expected to reach $ 15.69 billion (Rs 1.25 trillion) by 2027, growing at a CAGR of 6.63 per cent. Packaging-grade paper makes up for 55 per cent of the major kinds of paper produced.
The printing and writing paper market is expected to grow at a CAGR of 1.8 per cent during 2022-2026. This segment is expected to witness a demand growth due to factors such as rising population, re-opening of offices, growing traction in the pharmaceutical and e-commerce industry among others.
“The Indian government has launched several initiatives to promote the growth of the packaging industry, including the Make in India campaign, and the establishment of packaging parks. These initiatives are expected to boost domestic production, create employment opportunities and drive innovation and technological development in the sector,” according to JK Paper.
Meanwhile, the performance of West Coast paper Mills, during the June quarter, was impacted due to declining market demand on account of rise in paper imports. On the cost side, there was increase in wood prices. However, the management has positive expectations for a better working in the latter half of the year.
In comparison, the S&P BSE Sensex was down 0.20 per cent at 65,646 at 02:40 pm.
Shares of TNPL hit a 52-week high of Rs 284.20, surging 8 per cent on the BSE. In thw past one month, the stock has soared 34 per cent.
“A strong and robust domestic demand, coupled with strategic exports of both paper and converted paper products, augers well for the Indian paper industry. The company is well positioned to take full advantage of this bright future outlook,” TNPL said in its FY23 annual report.
Besides TNPL, Andhra Paper (up 15 per cent to Rs 543.95), West Coast Paper (up 14 per cent to Rs 744.20), Seshasayee Paper & Boards (up 14 per cent at Rs 369.05), Orient Paper & Industries (up 15 per cent at Rs 57.95), and Star Paper Mills (9 per cent at Rs 234) hit their respective 52-week highs today. JK Paper, Emami Paper Mills, and Shree Rama Newsprint, meanwhile, gained in the range of 5 per cent to 8 per cent.
The Indian paper and paperboard packaging market was pegged at $ 10.77 billion (Rs 88,314 crore) in 2022, and is expected to reach $ 15.69 billion (Rs 1.25 trillion) by 2027, growing at a CAGR of 6.63 per cent. Packaging-grade paper makes up for 55 per cent of the major kinds of paper produced.
The printing and writing paper market is expected to grow at a CAGR of 1.8 per cent during 2022-2026. This segment is expected to witness a demand growth due to factors such as rising population, re-opening of offices, growing traction in the pharmaceutical and e-commerce industry among others.
“The Indian government has launched several initiatives to promote the growth of the packaging industry, including the Make in India campaign, and the establishment of packaging parks. These initiatives are expected to boost domestic production, create employment opportunities and drive innovation and technological development in the sector,” according to JK Paper.
Meanwhile, the performance of West Coast paper Mills, during the June quarter, was impacted due to declining market demand on account of rise in paper imports. On the cost side, there was increase in wood prices. However, the management has positive expectations for a better working in the latter half of the year.
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