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The stock of West Coast Paper Mills is being keenly watched by market players following the company's recent announcement of an expansion programme. According to market sources, the company is likely to arrange for debt financing for this expansion from a leading financial institution.

The company also informed the BSE recently that it has placed an order for 725 BDMT (bone dry metric tonne) per day fibreline with Metso Paper Sundsvall AB, Sweden, which will be the largest single line capacity fibreline in the paper industry in India. The order is a part of the Rs 1,100-crore expansion programme, which will enhance its production capacity of paper and paperboard from 1.63 lakh tpa to 3.2 lakh tpa.

The stock opened at a high of Rs 397.65 against the previous day's close of Rs 389.50 but closed lower at Rs 387.75.

K.S. Badri Narayanan

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