India Ratings & Research (Ind-Ra) has revised the sector outlook to negative to stable for FY15 from negative based on an expected moderation of supply side pressures with gradual absorption of the overcapacity created during the past few years.
International Paper Co is set to pickup majority stake of 53.5% in AP Paper for about USD 257 million in cash. Commenting on the deal CNBC-TV18’s managing editor Udayan Mukherjee says it should be quite good or charging up for the paper sector today because the deal has been struck at a huge premium to the current market price of AP Paper.