Goldman Sachs has sold 18.18 lakh shares of this newsprint company reducing its stake in the company to 5.16 per cent from earlier level of 7.81 per cent. For the quarter ended March 2010 the company reported a revenue growth of 19 per cent at Rs 356 crore. PAT at Rs 58 crore grew 174 per cent y-o-y for the quarter. On a full year basis, revenues came down 2.5 per cent to Rs 1,068 crore while PAT was up 17 per cent at Rs 126 crore. Paper margins rose to 18.88 per cent last quarter as opposed to 14.7 per cent a year ago. The company at the current price of Rs 106 trades at 6 times. its FY10 earnings.
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