Ballarpur Industries, the manufacturer of writing and printing (W&P) paper, witnessed a rise in share price on Monday after the company said its board approved a binding offer received for divestment of entire equity stake of 98.08% in its step down subsidiary, Sabah Forest Industries Sdn. Bhd. Malaysia

Shares of the company are trading at Rs 15.55, up Rs 1.04, or 7.17% at the Bombay Stock Exchange (BSE) on Monday at 11:09 a.m.

The scrip has touched an intra-day high of Rs 15.83 and low of Rs 14.90. The total volume of shares traded at the BSE is 1,289,404.

In the earlier session, the shares gained 3.5%, or Rs 0.49, at Rs 14.51.