India's Anupam Rasayan hits over 1-year high on $182 mln order win

Anupam Rasayan India

13/04/2023 07:34

** Shares of industrial chemicals manufacturer Anupam
Rasayan India  ANUY.NS  rise as much as 3.6% to 985.8 rupees,
its highest level since Feb. 11, 2022
    ** Co says it signed letter of intent worth $182 mln with a
Japanese multinational to manufacture and supply three high
value speciality chemicals
    ** Contract for a period of seven years
    ** Stock on track to rise for third straight session, if
gains hold
    ** All seven analysts covering the stock rate it "buy" or
"strong buy"; median PT is 873 rupees - Refinitiv data
    ** Over 723,000 shares traded as of 11:50 a.m. IST, 1.4X the
30-day moving average
    ** Stock rose 40% YTD as of last close, outperforming Nifty
500 index  .NIFTY500  which fell 3.3%
    

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))