India's Asian Granito rises on commencing sanitaryware manufacturing

Asian Granito India

26/12/2023 06:46

** Shares of Asian Granito India  ASGI.NS  rise as much as
8.7% to 77.85 rupees, their highest level since Nov. 24
    ** The ceramic wall and floor tile manufacturer said its
sanitaryware unit has commenced production, marking a shift from
third-party sourcing to internal manufacturing   
    ** Co expects turnover of around 4 bln rupees ($48.10
million) from sanitaryware and bathware division in five years 
    ** Stock sees most active day since early November, trading
vols at ~3x the 30-day avg as of 12:10 p.m. IST 
    ** ASGI is up ~50% in 2023, set for its biggest yearly gain
since 2017


($1 = 83.1640 Indian rupees)

 (Reporting by Nishit Navin in Begaluru)
 ((nishit.navin@thomsonreuters.com;))