India's DCW hits over 1-mth high on capacity expansion plan

DCW

23/11/2022 04:58

** Shares of DCW Ltd  DCWL.NS  rise as much as 6.8% to 55.00
Indian rupees, biggest pct gain since Oct. 18
    ** Chemical co says it plans to double its CPVC capacity
    ** Co also plans to increase capacity utilisation of its
synthetic iron oxide pigment (SIOP) plant to 100%
    ** DCWL is investing around 1.25 bln rupees ($15.28 mln)
    ** More than 2.9 mln shares traded, 0.9X their 30-day moving
avg of 3.1 mln shares
    ** Up to last close, stock up 16.25% YTD, outperforming the
Nifty 500  .NIFTY500  Index which rose 3.4%
($1 = 81.7900 Indian rupees)
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))