Tamil Nadu Newsprint dips on production stoppage in paper machine II
The stock down 7% to Rs 324 after the company stopped production in PM II due to water shortage
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Tamil Nadu Newsprint and Papers (TNPL) dipped 7% to Rs 324 on BSE after the company said that has stopped production in Paper Machine II (PM II), in Unit I (Karur) due to water shortage.
“The other two paper machines are in operation. The production in PM II will be resumed on availability of water,” TNPL said in a regulatory filing.
At 11:06 am; the stock was trading at Rs 325, down 6.8% as compared to 0.03% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than three-fold with a combined 295,199 shares changed hands on BSE and NSE so far.
Meanwhile, shares of other paper companies such as Ballarpur Industries (up 8% at Rs 19.40), Rama Paper Mills (6% at Rs 23), West Coast Paper Mills (3% at Rs 181) and Ruchira Papers (up 2% at Rs 139) were trading higher by more than 2% each on BSE.
“The other two paper machines are in operation. The production in PM II will be resumed on availability of water,” TNPL said in a regulatory filing.
At 11:06 am; the stock was trading at Rs 325, down 6.8% as compared to 0.03% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than three-fold with a combined 295,199 shares changed hands on BSE and NSE so far.
Meanwhile, shares of other paper companies such as Ballarpur Industries (up 8% at Rs 19.40), Rama Paper Mills (6% at Rs 23), West Coast Paper Mills (3% at Rs 181) and Ruchira Papers (up 2% at Rs 139) were trading higher by more than 2% each on BSE.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| BALLARPUR INDS. | 19.50 | 17.90 | 8.94 |
| RAMA PAPER MILLS | 22.75 | 21.55 | 5.57 |
| YASH PAPERS | 29.00 | 28.05 | 3.39 |
| WEST COAST PAPER | 180.95 | 175.55 | 3.08 |
| RAMA PULP & PAP | 18.40 | 17.90 | 2.79 |
| BALKRISHNA PAPER | 72.00 | 70.15 | 2.64 |
| PUDUMJEE PAPER | 19.75 | 19.30 | 2.33 |
| RUCHIRA PAPERS | 139.30 | 136.40 | 2.13 |