This Modi Government move to benefit paper stocks; Anil Singhvi says Orient Paper Mills, JK Paper, West Coast Paper set to be biggest beneficiaries

In good news for paper industry, the Narendra Modi government has taken a major decision over ban on single-use plastic. This has come as a big stamp of approval and validation of the Zee Business exclusive report in February. ZeeBiz had then suggested that Prime Minister may take a big decision on ban of single-use plastic. Now, the ministry of environment is likely to release final notification about the same in July, said Chetan Bhutani of Zee Business citing sources.  

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Quoting top government sources, Bhutani said that the Prime Minister has suggested to rope in institutions like National Cadet corps, National Yoga Kendra etc. to promote paper and other environment-friendly materials.  "Prime Minister also suggested that state governments should form a task force to weed out any difficulty that crops up before the date of notification. This is definitely big news for domestic paper companies," he added.

Zee Business Managing Editor Anil Singhvi said that paper related shares are set for a good rally now.  

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#ZBizExclusive | एक बार फिर ज़ी बिज़नेस की खबर पर लगी मुहर...

प्रधानमंत्री ने प्रगति मीटिंग में सिंगल यूज प्लास्टिक बंद करने पर लिया फैसला...पर्यावरण मंत्रालय ने जारी किया नोटिफिकेशन#PMModi #SingleUsePlastic @AnilSinghvi_ @BhutaniChetan pic.twitter.com/dB18cDdxoD

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"We have been saying this for a while that this sector is ready for a turn around and now that government is ready to ban single-use plastic, it is further going to help packaging and paper companies. Companies such as Orient Paper Mills and JK Paper will be biggest beneficiaries, while West Coast paper will also benefit to a great extent. Also increased duty on Chinese import will help this sector to a great deal," the Market Guru concluded.