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Tamil Nadu Newsprint’s Loss Is Ballarpur Industries’ Gain?
Two paper stocks that showed a huge divergence in trend today
09 Mar 2017, 07:03 PM IST 
A print worker pushes a trolley past stores of printing paper rolls at a plant. (Photographer: Kostas Tsironis/Bloomberg)
Shares of Tamil Nadu Newsprint and Papers dropped as much as 9.2 percent on Thursday after the company stopped production in its Karur unit paper machine due to shortage of water.
The plant constitutes nearly 20 percent of the company's total paper capacity, an analyst from Karvy Stock Broking told Bloomberg.
The stock was the top loser on the Nifty 500 index by end of trade.
Interestingly, the top gainer on the same index was a north-India based paper company – Ballarpur Industries. The stock jumped nearly 15 percent intraday before paring some gains and ending 6.2 percent higher.
In fact, the Ballarpur Industries' stock has rallied 17 percent since India Ratings downgraded its long-term issuer rating on February 21.