JK Paper share price trades in the Red Zone

JK Paper informed the stock exchanges that it has decided to sell its 20 per cent holding in a joint venture (JV), Oji JK Packaging Private Limited. JK Papers had in the month of October 2012 entered into a joint venture (JV) agreement with Oji Holdings Corporation (OHC) Japan, Marubeni Corporation, Japan and Oji India Packaging Private Ltd. (later renamed as Oji JK Packaging Private Ltd. or OJPPL) for the purpose of manufacturing and sale of corrugated packaging products.

JK Paper said in a statement that it had decided at its meeting of committee of directors held on 22^nd December, 2016, to sell the 20 per cent shareholding of OJPPL to OHC, one of the JV - joint venture parties. Meanwhile, JK Paper share price tanked 1.33 per cent intraday on the NSE today.  

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