(India) Sharmila Joshi of Asit C Mehta is of the view that one can buy Buy Ballarpur Industries, BILT with target of Rs 173.
Joshi told CNBC-TV18, "Ballarpur Industries is the stock that we are recommending. BILT it is the largest player in the Indian paper industry with a strong presence in writing and printing papers segments and they have a market share of about 17% by volume and 26% by value in the segments. They have 6 manufacturing units and it has total capacity of 48,100 TPA of paper and 98,550 TPA of pulp."
She further added, "The company has really been in news because of its re-structuring plans hiving of three of its units into a separate subsidiary and then later on it will transfer the ownership of this subsidiary onto other subsidiary. It will also go in for a stock split into 5 shares of the face value of 2 and after the split BILT will compulsorily buy back 40% equity shares from all shareholders on a mandatory basis."
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She further added, "The company has really been in news because of its re-structuring plans hiving of three of its units into a separate subsidiary and then later on it will transfer the ownership of this subsidiary onto other subsidiary. It will also go in for a stock split into 5 shares of the face value of 2 and after the split BILT will compulsorily buy back 40% equity shares from all shareholders on a mandatory basis."">
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