Paper Stocks Surge After Q1 Results

Shares of Indian paper makers gained after their quarterly profit surged on improved demand.

The trading volume of JK Paper's stock was more than five times the 30-day average when markets closed, with its Relative Strength Index at 75, suggesting it may be 'overbought'. All the three analysts tracking the company suggest a 'buy', according to Bloomberg data. The 12-month consensus price target implies a 12.8% upside.

Andhra Paper's trading volume was 17 times the 30-day average. Its RSI was 77, suggesting it may be 'overbought'.