India's Gandhar Oil Refinery rises on deal with JNPA

Gandhar Oil Refinery India

22/04/2025 08:33

** Gandhar Oil Refinery GADH.NS rises as much as 6.9% to 161.98 rupees; set for sixth consecutive session of gains

** On Monday after market, GADH announced signing MoU with Jawaharlal Nehru Port Authority to develop terminal in Maharashtra's Vadhvan Port for containers, bulk and liquid cargo and create infra

** Share price opened above 50-day exponential moving averages

** Co says estimated investment for project will be ~10 bln rupees ($117.5 mln)

** Adds project expected to commence in 2030

** GADH last up 4.9%, trims YTD losses to 25.3%

($1 = 85.1030 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)

 ((ashish.chandra@thomsonreuters.com (+91 7982114624))