India's Shree Rama Newsprint soars, to enter starch products making business

Shree Rama Newsprint

04/01/2022 06:42

** Shares of newsprint, writing and printing paper maker
 SRNP.NS  up as much as 11.2% at 22.85 rupees — their highest
since Dec. 15
    ** Co said https://bit.ly/3ERO6Qh on Monday after market
close it signed a memorandum of understanding (MoU) with the
government of Gujarat for venturing into starch and its
derivatives, and allied products manufacturing business 
    ** SRNP said the business would be at its existing plant
location in Surat 
    ** Co said board of directors at a meeting on Sunday had
passed a resolution authorising the signing of the MoU
    ** SRNP stock up for a second straight session and posts
biggest intraday pct gain since Dec. 8 
    ** More than 676,000 shares traded by 0630 GMT, 4.3 times
their 30-day avg of over 157,000 shares 

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))