Tamil Nadu Newsprint up 11.54% on robust Q3 show

DALAL STREET SPIKES

The pulp and paper major, Tamil Nadu Newsprint, shot up 11.54 per cent to close the day at Rs 103.4, after it reached a 52-week high of Rs 104.95. The stock saw volumes of over six lakh shares.

The company recently announced its December quarter results. It posted a 320 per cent growth in net profit to Rs 14.65 crore and a 103.4 per cent growth in total income to Rs 207.95 crore.

The company is all set to enter into carbon trading, having got its bio-methanation plant registered as clean development mechanism (CDM) project with UNFCCC. This is the country's first ever CDM project in the waste management sector.