NEW DELHI, April 13: The ongoing rally in paper stocks continues unabated. Notwithstanding a 32 points fall in the Sensex on Monday, major paper scrips continued their upward journey on the Mumbai Stock Exchange (BSE). In the past one month, major paper stocks have outperformed the Sensex. While the Sensex gained 11.19 per cent (from 3772 on March 2 to 4194 on April 7), these paper majors have recorded gains in the region of 26-69 per cent.The rally in the paper stocks started especially after the installation of the BJP government at the Centre. The buoyancy in the paper stocks has been supported by an expectation of sops in the form of anti-dumping duty and expected revival in the industry. In the past seven trading sessions, Ballarpur Industries shot up by 37 per cent from Rs 35 to the current level of Rs 48.1 on BSE. On April 8, almost 15 lakh BILT shares were traded at a price of Rs 40.1. The following day, the volumes dipped to 5.6 lakh shares and on Monday, 5.1 lakh shares changed hands.
ITCBhadrachalam saw a gain of 23 per cent in the past four trading sessions. The scrip has steadily risen from Rs 42.8 on April 7 to Rs 52.75 on April 13. On Monday, around 4 lakh shares were traded against the Friday's volume of 3.46 lakh. The scrip started its rally from a level of Rs 29.9 on March 4. Tamilnadu Newsprint' scrip has been steadily rising from Rs 30.75 on April 2 to the current level of Rs 41.7. In the past six trading sessions, the scrip has gained almost 36 per cent. Although on Monday, the scrip rose from Rs 37.95 to Rs 41.7, volumes dipped from 67,500 shares to 13,600 shares.
West Coast Paper Mills also rose from Rs 41.7 on Friday to Rs 44.4 on Monday. In the past four trading sessions, the scrip saw an appreciation of Rs 12.
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