Paper Products is currently trading at Rs. 68.30, up by 1.25 points or 1.86% from its previous closing of Rs. 67.05 on the BSE.
The scrip opened at Rs. 68.30 and has touched a high and low of Rs. 68.75 and Rs. 68.30 respectively.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 77.00 on 05-Oct-2012 and a 52 week low of Rs. 58.00 on 04-Jun-2012.
Last one week high and low of the scrip stood at Rs. 70.00 and Rs. 66.95 respectively. The current market cap of the company is Rs. 428.00 crore.
The promoters holding in the company stood at 63.70% while Institutions and Non-Institutions held 6.47% and 29.84% respectively.
Paper Products has acquired 51% of equity shares of Webtech Labels, a private limited company in the business of pressure sensitive labels with an annual potential turnover of approximately Rs 75 crore, for a consideration of Rs 37.70 crore in an all cash deal. The company has a total outstanding debt of approximately Rs 26.20 crore.
This acquisition is expected to benefit both companies positively - support the position of the company in the packaging industry further while giving a larger market access to Webtech Labels due to the present position of the company in the Indian flexible packaging industry.
Paper Products is a leading consumer packaging company in India. The company offers a wide portfolio of packaging solutions that includes flexible packaging, labeling technologies and specialized cartons.
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