India's Ganesh Benzoplast up 3.5% after favourable arbitration order

Ganesh Benzoplast

02/03/2023 06:13

** Shares of Ganesh Benzoplast Ltd  GNSB.NS  up as much as
3.53% to 168.7 rupees, highest since Feb. 22
    ** Chemicals storage facility provider said it received a
favourable arbitration order in a land matter with Mormugao Port
Trust (MPT)
    ** GNSB had claimed in arbitration proceedings that MPT
enhanced lease rentals and caused delay in handing over land,
delaying project at Goa Terminal
    ** As per arbitration order, GNSB entitled to an amount of
76.6 mln rupees - co in a statement 
    ** Stock trading above its 50-, 100-, and 200-day moving
averages, indicating a bullish bias
    ** Trading volume at ~150,000 shares as of 11:25 a.m. IST 
    ** As of last close, stock was up 13.5% YTD 


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))