JK Paper multibagger stock hits record high
Published On: Wednesday, December 21, 2022 | By: Team KnowMyStock
Shares of JK Paper Ltd surged to hit a record high of ₹452 apiece on the BSE in Wednesday's early trading session in an otherwise weak market. In the past four trading days, the stock price of the paper maker has rallied 10 percent. The stock has been an outperformer this year as it has given a multibagger return of over 115% in 2022.JK Paper is among the top makers of copier paper, coated paper, and packaging boards in the country. The company is consistently following a policy of focusing on value-added products like Copier, Bond, Security, Coated Papers, Virgin Fibre Packaging Boards, High-end Maplitho, Food Grade Papers, and Boards.
On November 21, 2022, the company announced that it signed agreements to acquire 85 per cent stake in Horizon Packs Pvt Ltd (HPPL) and Securipax Packaging Pvt Ltd (SPPL) for a total of Rs 578 crore. The transaction is expected to be completed in December 2022."It is a privilege to join hands with India's largest player in the Corrugated Packaging segment. This together with JK Paper's upcoming corrugated facility in Ludhiana will establish it as the largest player in the corrugated packaging industry," JK Paper Vice Chairman and Managing Director Harsh Pati Singhania said.
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