Tnpl Spurts

Last week's close: Rs 75

Previous week's close: Rs 66

The TNPL scrip gained 14 per cent over the previous week's close. Last week the government shifted newsprint out of the OGL list and subjected it to actual user condition.

This decision was taken to protect the domestic industry as the ministries have taken the view that all the newsprint being imported is not for actual use. This will provide some relief to domestic manufacturers like TNPL which is one of the leading manufacturers of newsprint in the country. Due to difficult conditions in the industry like declining international prices and cheaper imports, the company has been saddled with inventory and the stock price had been on a decline for quite some time. This move is likely to help the company regain its footing.