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.  

To Read More: https://www.dynamiclevels.com/en/current-news/jk-paper-share-price-161229122703

JK Paper Rallies above 6%

On 15^th September, after the trading session commenced, JK Paper share price is seen to rally above 6.45%. The stock opened with a rise of 3.80 points at Rs.61 against its previous closing at Rs.58.90. Till now the days high is seen at Rs. 62.85 while the opening price remained it’s day’s low. As of now, 3,40,157 shares are traded in the counter with a traded value of Rs. 211.54, as per NSE. The stock saw a spurt in volume by more than 1.19 times.

JK Paper is among the top 500 performing stocks for this quarter recommended by Dynamic Levels, amongst the 1700 stocks listed on NSE. JK Paper has strong fundamentals and is safe for investment. JK Paper, an India-based paper manufacturer has a combined production capacity of 4,55,000 tons per annum. For the quarter ended 30-Jun-2016, the company has recorded Standalone sales of Rs. 606.00 Cr. Net profit after tax of Rs. 26.66 Cr. in latest quarter.

The lower price band of the share is Rs. 47.15 and the upper price band isRs. 70.65. The 52 week high of JK Paper share price is observed at Rs. 64.90 on 7^th July ’16 while the 52 week low is seen at Rs. 37.00 on 15^th Sept ‘15. The Average Daily Movement of the stock is 2.61 and its average volume for last 20 days is 506784. The stock yields 6.03% monthly returns and has the PE ratio of 9.78. The market cap of the company amounts to Rs. 874.85 (Cr) and has a book value of Rs. 59.72.

In other news, as a part of their commitment & respect for environment, JK Paper has retained its efforts for growing the green cover within 200 Km area from the plant sites at Jaykaypur, Distt. Rayagada (Odisha) and Fort Songadh (Gujarat)

In order to acquire further details on the support and resistance refer to JK Paper share price forecast.