Best Paper Stocks Worth Investing In India In 2024
Introduction
The paper industry in India plays an essential role in the country’s economic growth. It includes the paper you use daily to read, write, print office documents and bills, pack goods, clean surfaces, etc.
One of the prominent characteristics of the paper industry that makes it attractive to investors is its connectivity with other economic sectors. The industry has close ties with the agricultural and textile industries, due to which raw materials are available to paper manufacturers within the country, and there is no need for import. This ensures lower costs for the consumers and producers.
What are paper stocks?
Paper stocks belong to companies from India’s paper industry. These companies produce, manufacture, and distribute several paper-based products like printing paper, writing instruments, packaging material, etc.
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India’s paper industry isn’t restricted to the white sheet of paper. It also comprises packaging material and paperboards, medical-grade coated paper, filter paper, tissue paper, lightweight online coated paper, and cardboard boxes used for packaging.
5 best paper stocks for investment
1. Century Textiles & Industries Ltd.
Century Textiles & Industries Ltd. was founded in 1897. It is the flagship paper company of the Aditya Birla Group, a diversified conglomerate, and has its headquarters in Mumbai. Its product portfolio includes paper, cotton textiles, denim, yarn, viscose filament rayon yarn, salt, pulp, caustic soda, and sulfuric acid. It produces high-quality writing and printing paper and manufactures tissue, board, and Rayon-grade pulp products.
As of April 9, 2024, the company’s market capitalisation on the National Stock Exchange (NSE) was Rs. 20,460 crore. Its share price was trading at Rs. 1,831.80.
2. JK Paper Ltd.
JK Paper Ltd. was incorporated in 1962. It is a leading manufacturer and supplier of branded papers and packaging boards in India. It operates in four segments – writing and printing papers, office and copier papers, high-end packaging boards, and coated printing papers. The company acquired Sirpur Paper Mills with its manufacturing unit in Telangana in 2019. This acquisition helped JK Paper increase its manufacturing capacity to 5.91 lakh tonnes per annum (TPA) from 4.55 lakh TPA.
JK Paper’s market capitalisation was Rs. 6,079 crore on NSE as of April 9, 2024. Its closing share price was Rs. 358.85.
3. West Coast Paper Mills Ltd.
West Coast Paper Mills Ltd. (WCPM) was founded in 1955. It is one of India’s oldest and largest producers of paper for printing, writing, and packaging. Its mill is at Dandeli in Karnataka. The paper quality of WCPM ranges from 52 to 140 GSM, making it suitable for commercial high-quality printing and premium printing at affordable prices.
The company’s market capitalisation on NSE, as of April 9, 2024, was Rs. 4,171 crore. At the trading day’s end, its share price closed at Rs. 631.55.
4. Seshasayee Paper & Boards Ltd.
Seshasayee Paper & Boards Ltd. (SPB) was established in June 1960. It began commercial production in 1962 after setting up a 20000 TPA integrated facility at its Erode unit. The company produces printing and writing paper and exports it to the USA, Middle East, Nepal, and Sri Lanka.
As of April 9, 2024, the company’s market capitalisation was worth Rs. 2,037 crore on NSE. Its share trading price was Rs. 323.10.
5. Andhra Paper Ltd.
Andhra Paper Ltd., formerly International Paper APPM Ltd., was established in 1964. It has a rich history and produces copier paper, P&W papers, and a wide variety of speciality papers. Its product portfolio includes photos, tissue paper, cups, etc.
Andhra Paper’s market capitalisation on NSE was Rs. 2,012 crore as of April 9, 2024. Its share price closed at Rs. 506.10.
Conclusion
The paper industry in India dates back to the 1950s. Since then, it has witnessed consistent growth, with expectations to grow further. The government’s investment in education and evolving urban lifestyles can also benefit India’s paper industry and associated paper stocks. When selecting paper stocks for investments, you must consider vital factors like industry outlook, company fundamentals, valuation, and risk factors. Keep an eye on the stocks mentioned above to grow your portfolio in the sector.
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