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China Stopping Pulp Production Pushing Up Paper Stocks, Ruchira Papers Says
Shutdown of capacities in China led to a surge in prices of domestic paper stocks, said Ruchira Papers’ co-chair.
11 Dec 2017, 03:03 PM IST 
Rolls of paper pulp are fed into a machine during production. (Photographer: Daniel Acker/Bloomberg)
Shares of the paper manufacturers in India rallied for the second straight day due to shutdown of pulp making factories in China, said Subhash Chander Garg, co-chairman and director at Ruchira Papers Ltd.
China has stopped manufacturing its own pulp, which has in turn raised pulp prices. This makes importing paper costly for India, hence it augurs well for stocks of domestic players Garg told BloombergQuint.
Ruchira Papers’ stocks reached a lifetime high of Rs 196.8 after it rose as much as 12.88 percent today.
Watch the full conversation on rallying paper stocks here!