India's Chemcon Speciality jumps most in 7 weeks on Gujarat project update

Chemcon Speciality Chemicals

29/09/2022 05:15

** Shares of chemicals manufacturer Chemcon Speciality
Chemicals  CHEO.NS  rise as much as 9.85% to 458 rupees, mark
their sharpest intraday pct gain since Aug 12
    ** Stock hits highest level since Sept 23
    ** Co said on Wednesday it has started commercial production
at P9 facility at Manjusar, Near Vadodara, Gujarat  (https://bityl.co/Em9j)
    ** Chemcon has added a capacity of 2,400 MTPA of bromo
benzene at the P9 facility and is further evaluating to add a
pharma chemical, Guanine, at the same unit
    ** More than 316,000 shares change hands, about 1.1x 30-day
avg of 287,385 shares
    ** One analyst rates the stock "buy"; median PT is 482
rupees - Refinitiv data
    ** Stock up 13.55% YTD, as of last close
 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))