West Coast Paper

West Coast Paper Mills, JK Paper, Tamil Nadu Newsprint & Papers may see up to 25 per cent upside in 2023.

In the past six months, the stock price of WCPM has more-than-doubled or soared 137 per cent, as against 3 per cent rise in the benchmark Sensex.

The stock touched an intra-day high of Rs 380.55 as it inched closer to its 52-week high level of Rs 387.40. Shares of the paper company have gained 14 per cent in the preceding ten sessions.

Analysts believe that the government's nascent step towards anti-dumping policy will act as a big booster for the domestic paper players.

Paper stocks have rallied over 20 per cent in the recent past on hopes of higher demand as schools, offices reopen for normal functioning; charts indicate more upside.

Despite the absence of boards in its offerings, West Coast Paper has large capacities and is a formidable player with a positive outlook going forward, an official at LKP Securities said

The rally in paper stocks began early September when states eased Covid-19 related restrictions and announced re-opening of schools and offices

The government has issued a draft regulation under which there can be a ban on single use plastic for candy & ice cream stick, film wraps around sweet boxes and cigarette packets, etc.

According to the Saturday report from the California Department of Forestry and Fire Protection (Cal Fire), a total of 19 people have been killed by wildfires in the state so far

Shares of West Coast Paper Mills have hit a new high of Rs 415, rallied 117% in past one year and 301% in two years, as compared to 4% and 27%, respectively, rise in the S&P BSE Sensex.

Orient Paper & Industries, Nath Pulp & Paper Mills and Ballarpur Industries were up 6% each, while JK Paper and International Paper APPM have locked in upper circuit of 5% on the BSE.