West Coast Paper plunges 9% on stake sale buzz

West Coast Paper Mills plunged on Thursday after media reports quoted that the company was in talks to sell its business to US-based International Paper. The company promoters own 54% stake in the company.Shares of the companyare trading at Rs 64.25, down Rs 6.65, or 9.38% at the Bombay Stock Exchange (BSE) on Thursday at 10:18 a.m.The scrip has touched an intra-day high of Rs 75.60 and low of Rs 61.20. The total volume of shares traded at the BSE is 2,267,956.In the earlier session, the shares gained 5.58%, or Rs 3.75, at Rs 70.90. Currently, the stock is trading down 17.36% from its 52-week high of Rs 77.75 and above 44.54% over the 52-week low of Rs 44.45.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 52.40 18.50 35.31 1 Month 51.05 19.85 38.88 3 Months 50.35 20.55 40.81 6 Months 51.85 19.05 36.74 1 Year 76.10 (5.20) (6.83) Note: Based on previous day closing price.