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Andhra Paper zooms on getting nod for capital expenditure of Rs 400 crore for pulp mill

29 Aug 2022 Evaluate

Andhra Paper is currently trading at Rs. 501.85, up by 32.40 points or 6.90% from its previous closing of Rs. 469.45 on the BSE.

The scrip opened at Rs. 441.00 and has touched a high and low of Rs. 509.95 and Rs. 441.00 respectively. So far 38061 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 509.95 on 29-Aug-2022 and a 52 week low of Rs. 201.10 on 24-Feb-2022.

Last one week high and low of the scrip stood at Rs. 509.95 and Rs. 435.20 respectively. The current market cap of the company is Rs. 1972.79 crore.

The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 9.10% and 18.70% respectively.

Andhra Paper has received approval for capital expenditure amounting to Rs 400 crore to re-build and upgrade the existing Pulp plant to improve the reliability and efficiency of the Pulp Mill. This will help sustain the current levels of production, improve efficiency in Pulp Mill processes and lend flexibility in operations, augment pulp production capacity from existing 550 Tonnes per day to 600 Tonnes per day. The expected completion timeline is November 30, 2023. The proposal shall be funded through mix of debt and internal accruals. The board of directors at its meeting held on August 26, 2022 approved the same.

Andhra Paper is one of the largest integrated paper and pulp manufacturers in India.

Andhra Paper Share Price

67.85 -0.36 (-0.53%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
JK Paper 375.20
TN Newsprints 140.05
West Coast Paper 492.00
Emami Paper Mills 75.24
Seshasayee Paper 270.95
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