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%.
West Coast Paper to acquire Uniply Decor for less than liquidation value thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The packaging paper segment dominates sales in India with a share of 55%, followed by writing and printing (W&P) paper at 30%. Newsprint and speciality paper account for the rest. How is this impacting the major manufacturers of paper and paperboard? Dibyajyoti Sarma reports.
The resolution plan, submitted by West Coast Paper Mills Ltd and previously approved by the Committee of Creditors of Uniply Décor Ltd, marks a crucial step towards the company s expansion and diversification efforts.
“Our consultant, Lagrange Point Advisors LLP, an investment banking firm based in Mumbai informed us that the resolution plan to acquire Uniply Decor has been approved verbally by the Chennai Bench of the NCLT,” the company said in a regulatory filing.