Buy JK Paper, target price Rs 103: Yes Securities

Yes Securities has given a buy rating to JK Paper with a target price of Rs 103. The share price moved down by 0.62 per cent from its previous close of Rs 97. The stock’s last traded price is Rs 96.40.

JK Paper Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 1643.46 Crore) operating in Paper sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 638.44 Crore, up 36.06 % from last quarter Sales of Rs 469.24 Crore and down -19.25 % from last year same quarter Sales of Rs 790.62 Crore Company reported net profit after tax of Rs 33.40 Crore in latest quarter.

Investment Rationale
Positive breakthrough out of descending multi-month trendline ensures positive outlook for the stock. Appearance of a large bullish candle along with rising volume activity could mean a shift of range on the upside.