JK Paper shares surged around 9 per cent on Wednesday after a paper manufacturer on Tuesday said that it is aiming to further increase its export by 25 per cent this finanical year on the back of additional capacity.
The scrip closed 8.96 per cent higher at Rs 38.70. It opened at Rs 36.40 and touched a high and low of Rs 39.20 and Rs 35.90, respectively.
The company exported over 40,000 tonnes in the previous financial year ended March 2015, up by 150 per cent year-on-year (Y-o-Y).
The company export its products to more than 40 countries including Sri Lanka, Bangladesh, Middle East, Africa, Australia, Singapore, Malaysia etc. JK Paper’s flagship brand JK Copier is the largest selling copier brand in Sri Lanka.
For the quarter ended June 2015, the company reported net profit of Rs 16.78 crore against net loss of Rs 22.53 crore in the corresponding quarter a year ago.
The promoters holding in the company stood at 54.05 per cent while institutions and non-institutions held 11.19 per cent and 34.76 per cent, respectively.
(With inputs from PTI)