JK Paper up 5%

JK Paper is doing very well today morning, up 5% at Rs.25.25 and it is holding on to these Rs.25 levels at the moment. Volumes are good at around 4300 shares. Its 52-week high is at Rs.46.80.

The stock is up in the green after it announced a 5% price hike  with immediate effect due to rise in the cost of raw materials, mainly chemicals, 50% of which is imported, especially for packaging boards. Prior to this, price had been hiked in May. This price hike would go to protect the margins to some extent.