Emami Paper Mills shares hit the 20% upper circuit limit in Wednesday's trade, reaching a 10-month high of ₹118.63.
The sharp rally extended the stock's winning streak to a third consecutive session, driven by a dramatic improvement in quarterly profitability.
The company reported a 512% year-on-year surge in net profit for the June quarter, reaching ₹38.
The company reported a 512% year-on-year surge in net profit for the June quarter, reaching ₹38.61 crore.
Revenue also expanded, rising 22% year-on-year to support the bottom-line growth.
The earnings beat significantly outpaced market expectations, triggering intense buying interest that quickly exhausted available sell orders at the circuit limit.
This performance marks a notable turnaround for the papermaker, which has been navigating a challenging operating environment in the Indian packaging and paper sector.