Tamil Nadu Newsprint gains from LIC deal
DALAL STREET SPIKES
| The stock closed at Rs 68.60, up 1.03 per cent from its previous close, with 1.65 lakh shares traded. On the NSE, the stock hit a high of Rs 75, with volumes of over 5.33 lakh shares. |
| The stock has rallied in the last few weeks. From a low of Rs 52.20 on 18 August 2004, the scrip has surged nearly 34 per cent to Wednesday's close of Rs 68.60. |
| On September 28, 2004, LIC acquired 69.63 lakh shares of T N Newsprint, amounting to a 10 per cent stake, at Rs 64.20 - near the then ruling market price. LIC bought the stake by way of an off-market deal from IDBI. |