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Andhra Pradesh Paper Mills’ scrip surged 15.93 per cent on the BSE today.
The company, which has been acquired by the US-based major International Paper, is trading at about Rs 306.
The scrip hit a 52-week high and low of Rs 389 and Rs 120, respectively. If the volumes move up and the interest persists, it could hit the upper circuit.
After the buyout of the promoters’ stake in AP Paper and subsequent open offer, the company’s sole promoter International Paper holds 75 per cent equity, AP Paper Mills said in a filing to the BSE.
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