India's Ami Organics rises after signing MoUs for electrolytes manufacturing plant

Acutaas Chemicals

21/12/2023 10:26

(Adds news on MoUs for electrolytes business, updates levels)
    ** Shares of Ami Organics  AMIO.NS  extended gains to rise
6.2% to 1150.95 rupees after falling 5.6% earlier in the day 
        ** AMIO 
    signs
     non-binding MoU with a global manufacturer of electrolytes
for use in battery cells and allied materials  
  
        ** Adds it will sign MoU with Gujarat govt to invest 3
billion Indian rupees ($36.04 million) to set up a manufacturing
facility for electrolytes business
  
    ** More than 4.6 mln shares traded in three blocks between
1,030 rupees and 1,034 rupees - LSEG data        
    ** Stock sees most active day since Sept. 2021; trading
volume at over 64x the 30 day avg  
    ** Stock up ~19% YTD; it had fallen ~9.5% in 2022

    ($1 = 83.2420 Indian rupees)

 (Reporting by Nishit Navin and Dimpal Gulwani in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))