This Paper Stock Rises 14% On Bonus Issue Proposal

Ruchira Papers Ltd is engaged in the manufacturing of kraft paper and writing & printing paper. Writing and printing paper is used for multiple purposes like printing and stationery etc. The company's white writing & printing paper is used in the fabrication of note books and writing material; the coloured paper is used in the fabrication of spiral notebooks, wedding cards, shade cards, children's colouring books, coloured copier paper and bill books.

The stock has been in news as it has announced that it will consider bonus issuance on August 30 and the stock gained 14% intraday following the announcement. Check key takeaways below:

Ruchira Paper Ltd To Consider Bonus Issuance

The company has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/08/2022. The board of directors said in its BSE filing, "we wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, 30th August 2022, inter alia, to consider the proposal for issue of Bonus Shares to the equity shareholders of the Company. Further, to inform you that Pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for trading in securities of the Company will remain closed for all the Directors, Key Managerial Persons, Designated Persons and the Connected Persons covered under the said regulations from 23rd August 2022 to 01st September 2022 (both the days inclusive)."

Ruchira Paper Ltd Stock Outlook

The current market price of the stock is Rs 138 apiece. The stock gained 14% soon after the company declared it will hold a meeting on August 30 to consider bonus issue.

Ruchira Paper Ltd 52 Week High/Low

The stock of the company has touched its 52-week high at Rs 141.30 apiece and 52-week low at Rs 69.90 apiece, respectively.

Ruchira Paper Ltd Market Capitalization

The current market capitalization of the stock is Rs 361 crore.

Ruchira Paper Ltd Return In Last 5 Years

The stock has given a return of 40% in 3 months, 78% in 1 year, 105% in 3 years, and fallen 8% in the last 5 years.

Ruchira Paper Ltd Q1 FY2023 Result

It has declared a total income of Rs. 199.1676 crores during the period ended June 30, 2022 as compared to Rs. 191.3662 crores during the period ended March 31, 2022. It has declared net profit / (loss) of Rs. 11.6343 crores for the period ended June 30, 2022 as against net profit / (loss) of Rs. 16.1153 crores for the period ended March 31, 2022.

About Ruchira Paper Ltd

The company had set up 33000 TPA unit for manufacturing of writing & printing paper adjoining to its existing unit in March, 2008. The Company initially set up agro waste paper mill for manufacturing of Kraft Paper and commenced its operations with a small 2310 TPA Capacity. Kraft Paper finds its application in the packaging Industry especially for making Corrugated Boxes / Cartons and for other packaging requirements. The special feature of its Kraft Paper is load bearing Capacity & tensile Strength which makes its most suitable for Corrugated packing application.