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Astron Paper share price spikes 10% after nod to restart production at Bhuj

Astron Paper share price spikes 10% after nod to restart production at Bhuj
April 09
21:04 2020

The stock witnessed a spurt in volume by more than 1.39 times and was trading with volumes of 9,269 shares.

Astron Paper & Board Mill share price spiked almost 10 percent after the company received permission from the Gujarat government to commence production for its unit at Bhuj.

“We would like to inform you that we have been received permission from the government of Gujarat regarding the commencement of Unit-2 located at Bhuj, Gujarat. Unit-1 (PM-1 and 2) located at Halvad, District- Morbi, Gujarat remain shut during this lockdown period. Balaram Papers Private Limited, wholly-owned subsidiary company also received permission to commence operation. Hence, we have partially started production with a bare minimum strength of men power and with conditions/directions/ guideline issued by Ministry of Health and Family Welfare Govt of India and by Government of Gujarat with respect to preventive measures taken for this COVID-19,” the company said in a filing to the exchanges.

The stock witnessed a spurt in volume by more than 1.39 times and was trading with volumes of 9,269 shares, compared to its five-day average of 4,923 shares, an increase of 88.27 percent.

It gained 13 percent in the last 7 days and was quoting at Rs 30, up Rs 2.65, or 9.69 percent. It has touched an intraday high of Rs 30.05 and an intraday low of Rs 29.10.

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First Published on Apr 9, 2020 11:13 am

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