Papyrus Australia gains most in 10 months as packaging trial complete

Papyrus Australia

17/09/2021 02:25

** Shares of Papyrus Australia Ltd  PPY.AX  jump as much as
62.5% to A$0.039, their biggest pct gain since Nov 2020
    ** Agricultural waste fibre tech co hits highest since May 6
    ** PPY completes trial https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02422665-2A1323981?access_token=83ff96335c2d45a094df02a206a39ff4
 to use its mechanically refined banana fibre for making
biodegradable, moulded food packaging 
    ** Says trial proves banana fibre is a viable alternative to
wood pulp in moulded food packaging 
    ** About 10.1 mln shares change hands, about 17x 30-day
average volume in PPY's busiest trading day since June 29
    ** Stock has fallen 55.56% this year, as of last close 

 (Reporting by Dhriti Garg in Bengaluru)
 ((Dhriti.Garg@thomsonreuters.com;))