India's JK Paper gains on approving merger of units, acquisition

JK Paper

16/12/2024 07:47

** Shares of paper maker JK Paper  JKPA.NS  rise 3.9% to 472
rupees
**  Co approves consolidation of business operations wherein it
will merge three of its units with itself
    ** Also approves acquisition of majority stake in corrugated
packaging materials maker Radhesham Wellpack
** JKPA to buy 75,000 or 60% of Radhesham shares at 8,463 rupees
per share, with the remaining to be acquired within two years of
deal closure
    ** More than 1.2 mln shares traded, 2x its 30-day avg
    ** Stock up 16% YTD

(Reporting by Aleef Jahan in Bengaluru)
((aleefjahan.cs@thomsonreuters.com))