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Ideas for Profit | Does the rally in JK Paper on likely plastic ban have legs?

September 25, 2019 / 03:17 PM IST
Ideas for Profit | Does the rally in JK Paper on likely plastic ban have legs?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Stocks of paper companies rallied earlier this month following news that the government is likely to ban single-use plastics. The nation-wide ban — the details of which are being finalised by the government — is expected to be announced on October 2, the birth anniversary of Mahatma Gandhi. With paper being one alternative to plastic, the reaction was logical. But the big question on investors’ mind is this: Was the sharp move up another knee-jerk reaction or is the rally...

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