Yash Papers gains on capex plan of Rs. 150 crore

Yash Papers is contemplating expanding its capacity with a capex plan of approximately Rs. 150 crore. The stocks of the company gained almost 2 per cent intraday.

The company, as a result of the capex plan, will be doubling production across its product range. The company has a manufacturing plant in Ayodhya, where it produces speciality paper and various paper products from sugarcane pulp. It also makes paper bags and tableware/containers.

The company is funding investment through internal accrual and banks for expansion. It is expected to be completed by March 2020.

Yash Papers is a provider of consumer, industrial and protective packaging solutions. The company operates approximately three paper machines that manufacture low grammage machine glazed (MG) industrial bleached and unbleached grades of paper.

On Wednesday, the shares of Yash Papers were volatile. The share opened at Rs. 50 against Tuesday’s close of Rs. 51.35 and finally closed at Rs. 52.50 per share, up by 12.24 per cent up. Its intraday high was Rs. 52.95 and an intraday low of Rs 50.55. Its 52-week high was Rs. 95 and the 52-week low was Rs. 40.55 per share on the BSE.